Home Loans For Illegal Immigrants
MAY 12, 2006
As the country strives to curb illegal immigration, Illinois has launched a program that uses millions of dollars in public funds to provide low-interest home loans for illegal immigrants who have no credit history or documentation in the U.S.
Called Opportunity I-Loan, the American tax-payer funded program was the bright idea of Democrat Governor Rod Blagojevich who has set aside $15 million to provide illegal immigrants in Illinois with the funds to purchase a home. The money is distributed through the state’s Housing Development Authority, which proudly boasts that Illinois is only the second sate in the nation to provide affordable, 30-year fixed rate mortgage loans for individuals that live and work but have no credit history or social security number.
Incidentally, the loans are at a lower rate – about one point – than most Americans with impeccable credit can get through legitimate means. Surely, many American families would benefit from such loans, leading the Federation for American Immigration Reform to say that it is an outrage that Illinois is helping people who have no legal right to be in the state.
The Illinois Housing Development Authority’s pro-illegal immigrant loan statement fails to mention, however, that the first state to offer such an outrageous program discontinued it amid fierce opposition and community outrage. Shortly after launching the Immigrant Lending Program, Wisconsin lawmakers discontinued it but not before handing out 261 loans worth $30 million.
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