on contraire monfraire.... the aggressive tactics that were used to close some of these loans would make Arthur Anderson look like mother teresa...c'mon homeboys; ssn and credit check..n*gga please. if there is a 4k or 5k commission behind the closing of a loan you think a SSN or credit check is going to keep them from closing it??? . some of these loans where made for appraisels which where 40 to 50% above real home value. The new buyer gets the cash from the bank of lets say 750k then buys the home for lets say 500k and pockets the rest and doesn't make any payments and defaults on the loan netting the new buyer 250k for absolutely nothing...these loans are a dime a dozen in these here parts...
I was almost a victim.... So I am speaking 1st Hand. 3 years ago, I applied for a 2nd Mortgage on a House I owned Outright to make some business investments. I had previously lost all I had during the I-Bubble (I was totally ignorant of how to really trade the markets) SO My Credit rating had dropped to the upper 500's. (Yeah I was a dummy who tied up the majority of his assets in pie in the sky gains...) They Appraised my House for 5x what I could actually sell it for. Wrote a loan for 70% of that value, ran all kinds of games to get it approved (even fudging my income - Self Employed on the verge of bankruptcy mind you-) When I sat down and read the contract, I looked at my wife and we said no thanks, we'll get out of the tough spot by ourselves. They offered an ARM with a ballon Payment in 5 years. Had we not read every line, we would have missed that "little" detail as it was well hidden in the text of the document. Their commission alone was 5K on this loan had it gone through. The appraisal was a drive by appraisal at best. The games are there, I just wasn't desperate enough. The good news, was my wife and I buckled down, Drastically reduced our expenditures (lived super cheap) and rebuilt our business and ourselves from the ground up. Using sound spending practices, Sound saving practices, and Finally learning how to REALLY trade the market. These lenders prey on the greed/hunger of the lower middle and upper poor class. But ultimately, it's our responsibility. SO tough titty the markets are biting it... Greed always crashes in the end.... and yay for the money making opportunities that have reared their pretty heads. LOL. Lost housing means more rental income for me
the right price is 3 times more and the service is 3 times less. General Motors is paying the right price to their assembly line and look what it got them.
have you ever worked for a living? how would you feel if your empoyer fired you because they felt they could replace you with someone who would work for much less ? What if you went to school and then got a new job in a new industry, and the same thing happened? At what point would you realize that there was something fundamentally wrong with this system. ? There but for the grace of god go I.
It was tongue in cheek about the guy being a criminal using illegal workers. But the other points I made are legit. Why do you say the service will be 3 times less? Does your employer get 3 times less service from you because your American, of course not. And for you info the illegal workers arn't the best thing since sliced bread, they are just working real cheap. A lot of them have drinking, drug, women, fighting problems just like a lot of the American workers, they're people just like all of us.
That's pretty much how I feel about it. We have a large Hispanic population here doing fish packaging, forest replanting, pretty labor intensive jobs. They're easy to hang a target on, blame issue on but take all the BS and politics out of it and it all comes down to "they're people just like all of us." For some reason there's always been a number of our country's citizens blaming immigrants since, I believe, the day after the Mayflower landed. Kind of odd for a nation of immigrants.
How does an unskilled Mexican, who does not have a close US citizen relative (spouse, sibling, or adult offspring) willing to sponsor him, immigrate to the US legally, even if he is willing to wait seven, or even twenty years?
I don't know how they apply, or how the process currently works. It seems pretty clear that the current process doesn't work. We've had this kind of wink and nod system to allow workers from the south to fill employers need here in the north. The whole thing has created an extremely porous southern border. This has always been poor policy, enter terrorism and it's no longer simply poor but just plain stupid policy.
All you have to do is apply to the government of the US to emmigrate here. It just takes too long to process the information. You can apply to work here(green card) after which you can apply for permanent status. You can apply if you have a relative in the US. You can apply if you are an entepreneur in your country and would like to establish a business in the US or operate in the US. You can request asylum in the US. You can have a sponsor. I'm sure there are many other ways as well. Unless you know someone that can get rid of the red tape you will be stuck for 5-7 years. Now you know why they risk their lives to get here. If you have no hope where you are currently living you are not going to sit around in poverty waiting for something to happen. I think it's great that people with "motivation" come to the US to better themselves and their families.