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Foreclosure Help Tough When You Lie

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John Rebchook, Rocky Mountain News, January 9, 2008

Last week, a woman called me and asked me for the number of the Colorado Foreclosure Hotline.

I told her 1-877-601-HOPE.

She told me she wanted the number for her neighbor, not herself.

{snip}

I told her that her neighbors should tell the counselors the truth, even if it is painful.

For example, once a distressed homeowner started the conversation with me by telling me he had never missed a mortgage payment. But now is wife is sick and he is on a permanent disability and they were strugling to make their payments.

Twenty minutes into our conversation, he revealed that he had missed the last three mortgage payments.

I reminded him of what he first told me.

“Oh, I meant I had never missed a payment, except for those three,” he said.

I relayed a short version of that story to the woman who wants to help her neighbor.

There was a pregnant pause, and then she told me what really was the crux of her call.

The couple next door had given a false Social Security number to the lender on their mortgage application. She said although they are hard-working, good citizens, she thinks they are in this country illegally.

They are understandably worried that their fraud will be discovered and there would be no help for them. .

She said her neighbors were worried that a counselor at the hotline would turn them into immigration officials. In other words, in addition to the prospect of losing their home, they fear being deported.

I said I didn’t think that would happen. But honestly, I told her I thought they could be out of luck as far as getting help from their lender, since they were guilty of mortgage fraud.

After I got off the phone with her, I wondered if I had given her the correct advice, so I called Zach Urban, the go-to guy for all things foreclosures.

{snip}

“I have not seen any mortgage company that has any interaction with the INS,” Urban told me.

“And we certainly have no interaction with the INS,” Urban continued. “If someone came to us in that position, we would not report them to the authorities. From our perspective, we are not police officers; we’re housing counselors. We do not any process or protocol to turn them over the police.”

{snip}

“They have presented false information,” Urban said. “As with any type of fraud, they have been dishonest from the start. What gets to the heart of the issue is that it may not have seemed like fraud when they lied, or maybe it seemed so easy, or maybe it seemed everyone was doing at the time, when there were such lax underwriting standards.”

{snip}

Original article

(Posted on January 14, 2008)

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Comments

“They have presented false information”, he says? I appreciate his sympathy with his little brown brothers, but translated into White English this means “They lied.”

“It may not have seemed like fraud when they lied” he says. I would have to agree. For MExicans, lying and corruption are a way of life. Always have been. hey are by nature liars., and theefoe of COURSE it did not seem bad.

Maybe it seemed so easy, or maybe it seemed everyone was doing it at the time.” I am sure he is correct. Probably well nigh ALL the Mexicans were engaged in this type of fraud. Again, it is a Mexican tradition, not a fluke, not a rare occurrence, but something that ALL Mexicans were doing — at least it seemed that way to your typical Mexican.

And finally, the “lax underwriting standards” were at fault. In other words, where a Mexican is concerned, if you count on their word, or the word of their employer, or their other family members or anyone they know, you are actually inviting them to steal.

Regarding security, look at Mexico for examples of what is a reasonable security measure. You must embed broken glass in concrete on top of all your walls surrounding your home to property communicate to a Mexican that stealing is not OK. Anything else is a “lax security standard” and an invitation to steal.

Posted by Big Bill at 8:40 PM on January 14


Try getting a credit card by lying about your income and see what happens. ( Unless you’re hispanic. then you will not get into trouble).

Posted by Superwhite at 8:58 PM on January 14


I wonder how much of the current subprime mortgage crisis has been caused by illegal aliens getting home loans in the U.S.?

Those who are sorry for them, consider this.

As soon as they (under-)report their low income, they become eligible for subsidized homes (sometimes for as low as 60% of the market value) and FHA-backed loans that, afer all loopholes are used, require them to put only 2.5% down.

When the home prices go up, they sell their subsidized porperty for a full price and habdsom profit (in California, hundreds thousands of dollars). If the house prices go down, they just walk away from their debth, or file for bankrupcy, loosing a miniscule amount (2.5% of the subsidized home price, usually just a few thousand dollars or less), and we, the Americans, pick up the tab for their failed gamble.

In other words, these lawbreakers and border violators are given a free pass to huge profits in American real estate market, and in every case scenario they rip us off huge amount of money. (Remember that when they make a profit of selling their property, these were not them who created that value, they just skimmed it from the market as any other speculator does, so the other buyers have to pay more.)

They shoud be apprehended while applying for a loan and deported, instead.

Also, why it is so that low income residents, legal or otherwise, must be granted home ownership? Isn’t it enough if their rent is being subsidized? The argument that it’s cheaper and more effective to put them in home ownership is invalid; it’s just that the society, and not the housing authority, picks up the tab for the subsidies extended to these low income residents in the latter case.

Posted by A Reader at 9:43 PM on January 14


In third world cultures, what Whites call lying and cheating are normal. Just today, I had to ask the Chinese gas station owner for the penny he owed me. It wasn’t a matter of miscounting pennies, he owed me $1.01, and he gave me a dollar. I used to overlook that sort of thing, figuring that a few cents weren’t worth the effort, but it has become a matter of racial pride for me. These arrogant people count on our unwillingness to confront them over their petty dishonesty, and I despise them for making me ask for what is mine.
So now that we Americans have learned to put up with being openly cheated by foreigners for a penny, we now can move on to coughing up the money to cover their bad debts, dishonestly contracted. We are nothing but a milch cow for our masters and their foreign overlords and underlings.

Posted by Schoolteacher at 10:31 PM on January 14


The worst-kept secret of this whole mortgage/foreclosure flap is of course the overwhelming non-white connection…and the illegal alien angle is just another twist. While I do find the practices of many of the obviously predatory lenders repugnant, I could see this “crisis” coming eight years ago!

Posted by HH at 10:41 PM on January 14


“She thinks that although they are hard-working, good citizens, she thinks they are in this country illegally.”

Isn’t that an oxymoron? Have people forgotten the definition of ‘citizen’?

Posted by kitty at 10:46 PM on January 14


“She said although they are hard-working, good citizens, she thinks they are in this country illegally.”

Yes, as “hard-working” as those immigrants are, their continued existance in the U.S. is against the law:

Should we free all those murderers, pedophiles, thieves etc because they were “hard-workers” before they committed their crimes?

Posted by Obscuratus at 11:14 PM on January 14


Of course the lenders aren’t going to push the issue, they KNEW what they were doing when they made the bogus loans! I have no sympathy for either the lender or the illegal/whoever who essentially conspired together to commit fraud. If the illegal loses the house, tough, if the lender goes under, tougher.

Posted by idareya at 11:50 PM on January 14


Deportation? Please, they know they’re closing in on free reign over this country.

illegals in this country — authorities from national blame the state blame the local authorities, etc.- round and round it goes;
I’ve read of immigration policies of countries worldwide. How does everyone else have a better system than the ‘strongest’ nation in the world?
Different departments working for the same cause blame one another and don’t take responsibility. No one takes responsibility! It’s always someone else’s job. AHHHHH!

I’m the oldest person my age that I could ever imagine.

Posted by GAonMYmind at 11:53 PM on January 14


The American taxpayers will surely bail them out, so they have nothing to worry about.

Posted by PincheGabacho at 2:02 AM on January 15


Well well, an honest article that isn’t afraid to use the word fraud. That’s quite rare. Usually, journalists do everything they can to hide and obfuscate what is really going on when there is petty crime.

Posted by Reader-1 at 2:25 AM on January 15


Completely dishonest. Most of these guys are involved in scams by which they siphon off the money from the loan in various ways and then abandon the property. Almost all of them are illegal immigrants and blacks. Many of them are engaged in identity theft, whereby they destroy some unsuspecting victims’ lives, in return for a handful of dollars.

A similar scam is big in New York City, among people getting small business loans.

The dishonesty involved both by the criminals and the institutions aiding and abetting these crimes, is epic in its scope.

Posted by at 5:02 AM on January 15


Whether they LIED or MISREPRESENTED themselves to the mortgage company is the small part of their crime and deceit.

We already have laws in many states that make it a felony to fail to report SUSPECTED child abuse and neglect to the proper authorities. It would be a very small step to add illegal aliens to the same laws:

“Anyone who knows or suspects another person of being an illegal alien must report that information to the proper authorities and failure to do so is a felony.”

If it is a good law for suspected child abuse and neglect, it would be a good law for being in the USA illegally.

Posted by Memphomaniac at 2:23 PM on January 15


First the Federal Government forces banks, mortgage and finance companies to give loans to people because they’ve been accused of denying loans because the companies were racist.

So they dole out the mortgages and car loans to undeserving people, and when those undeserving people default on the loans, the Federal Government then steps in again, and forces actual taxpayers to foot the bill for the defaulted mortgages.

Boy - this is a great country to live in if:

1. You are Black or Brown
2. You are Black or Brown and are here illegally
3. You don’t work, and have a multitude of illegimate kids, with multiple men and women.

Posted by Gayle at 4:57 PM on January 15


Remember, “Our White sons and daughters are dying in Iraq, in order to establish a “Nation of Laws”….”, says the President`.

Posted by LOGIC at 11:13 PM on January 15


“Many illegals lied to get mortagages.”

No, NOOOOO, I just don’t believe it. Illegal aliens lie or cheat?

Posted by at 8:48 PM on January 19



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