Starting in California earlier this week, the California Senate Appropriations Committee advanced a bill that would allow illegal aliens to take advantage of the state’s zero-down, no payment home “loan” program.
Local 12 provided more details:
The social and economic benefits of homeownership should be available to everyone. As such, the California Dream for All Program should be available to all. When undocumented individuals are excluded from such programs, they miss out on a crucial method of securing financial security and personal stability for themselves and their families.
Wrote bill author Assemblymember Joaquin Arambula, D-Fresno.
AB 1840, which already passed the Assembly and now faces a floor vote in the Senate, would prevent the state’s California Dream for All Shared Appreciation Loans program from denying individuals on the basis of their immigration status. This program allows applicants to secure “loans” of up to 20% of the home’s purchase price — or, about what a typical down payment is — with zero down payment on this state loan, and no payments.
The state’s “loan” can potentially be repaid to the state when the home is refinanced, sold, or transferred, with the borrower paying back the original loan amount plus 20% of any increase in value on the property. It’s not clear what happens if a family decides to hold on to a home as there are no provisions on how long a property can be held for, which means certain kinds of trusts could potentially allow the loan to not be paid back.
The Appropriations Committee analysis said expansion would create “unknown significant cost pressures, potentially in the millions annually, to provide additional funding for the Home Purchase Assistance Program to accommodate the expanded eligibility population.”
This year, 18 thousand individuals applied for the $255 million “loan” program through a lottery, leaving 1,700 lucky winners with up to $150,000 each towards down payment and closing costs.
President George W. Bush’s home down payment assistance program for less qualified individuals is widely blamed for fueling the housing bubble — by increasing housing prices and decreasing loan recipient quality — that led to the 2007-2008 global financial crisis.
San Diego County Supervisor Jim Desmond said in a statement provided to the Daily Caller, “Once again, California has chosen to prioritize illegal immigration and fiscal irresponsibility over the needs of its citizens, all while facing a $60 billion deficit that will ultimately be passed onto taxpayers.”
“California is in dire financial straits, yet lawmakers continue to prioritize programs that incentivize illegal immigration and strain local resources,” Desmond added. “Expanding this program to include illegal immigrants is not just another handout—it’s a massive overreach that shifts the financial burden onto law-abiding taxpayers.”
Meanwhile, it has been revealed that an Oregon-based taxpayer-funded group called Hacienda CDC is currently providing non-citizens a $30,000 home assistance loan for new homebuyers through a program they call Camino a Casa.
The promotions put out by Hacienda stated: “Only for people who are not American citizens…” “Clients work closely with financial coaches and HUD-certified housing counselors throughout the entirety of the homebuying process. In addition to mortgage readiness and financial fitness workshops, we provide various opportunities for down-payment assistance…”
ZeroHedge provided more details into the company:
Hacienda CDC is funded in part by Business Oregon, which is a state institution that manages state and federal tax dollars for economic development in Oregon. Business Oregon’s director is Sophorn Cheang, who is also a coordinator for the Oregon governor’s “Racial Justice Council.” As Business Oregon mentions in her bio:
“Prior to her work with the Governor’s Office, Cheang served as Senior Community Development Manager and Director of the Asian Family Center for the Immigrant and Refugee Community Organization, where she developed and directed culturally specific programs and services for immigrants and refugees; mobilized diverse community leaders across the state to address social and racial injustices; and performed other strategic planning and advocacy work…”
The funding is funneled through the Economic Equity Investment Program (EEIP), an equity-based beneficiary project established through the Economic Equity Investment Act (SB 1579), which the Oregon legislature passed in 2022. The organization receives millions in Oregon state taxpayer money and federal taxes through the U.S. Department of Housing and Urban Development (HUD), according to its recent annual report.
Hacienda CDC works with credit unions that offer mortgage loans for non-citizens who cannot get a social security number. Instead, these credit unions use an IRS loophole by processing the mortgage with Individual Taxpayer Identification Numbers (ITINs).
AUTHOR COMMENTARY
If you think home prices in California are asinine now, then just wait until the state gets this bill passed and starts giving illegals even less than a subprime mortgage!
Lamentations 5:2 Our inheritance is turned to strangers, our houses to aliens.
I have covered a number of times before that the massive invasion of illegal aliens is a curse God sends on nations that turn their backs on him, and this is yet another shining example of that.
Deuteronomy 28:43 The stranger that is within thee shall get up above thee very high; and thou shalt come down very low. [44] He shall lend to thee, and thou shalt not lend to him: he shall be the head, and thou shalt be the tail.
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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