It’s an interesting concept, but, how many 1st time buyers who are citizens are able to afford homes in the People’s Republik Of California now?
New California bill would make illegal immigrants eligible for first time homebuyer loans
Joaquin Arambula, a Democratic assemblyman from California, introduced Assembly Bill 1840 earlier this year, which could create an alternative way for illegal immigrants to achieve homeownership.
The bill is set to expand eligibility criteria for a state loan program to expand these loans to include undocumented migrants that are first-time buyers.
Arambula’s update to the bill states, “an applicant under the program shall not be disqualified solely based on the applicant’s immigration status.”
“It’s that ambiguity for undocumented individuals, despite the fact that they’ve qualified under existing criteria, such as having a qualified mortgage [that] underscores the pressing need for us to introduce legislation,” Arambula told the LA Times.
You can definitely see loan companies tightening standards since they won’t be able to determine immigration status, which will cause more problems for U.S. citizens
The bill focuses on the California Dream for All Shared Appreciation Loans program, which launched spring of 2023 to give qualifying first-time home buyers a loan that covers up to 20% of a property’s purchase price that will not accumulate interest or have required monthly payments. Loanees are instead expected to pay back the original loan amount in addition to 20% of the increase in the home’s value when the property’s mortgage is refinanced or resold.
I wonder what the default rate on that government loan will be? But, again, can illegals even afford a home loan? The question now is, will it pass? This is the PRC, so, the elected officials are all about catering to illegal aliens
‘Mammoth cost’ for migrant crisis just beginning, expert warns
A staggering 10 million people have entered the U.S. illegally since inauguration day in what is an economic ticking time bomb, says author Todd Bensman.
“We’ve never seen anything like it,” he told the Herald. “It’s the biggest and baddest migration in the history of the United States and maybe the world.”
Local schools, area hospitals — “any quality of life metric” — will be overwhelmed due to this migration, he said. The courts, police, prisons and the “downward pressure on wages” will also change society drastically.
“There’s a price tag to all this that Americans are finally waking up to,” he said. “There will be political change and you’ll see it in the black and Latino neighborhoods, too.”
Non-sanctuary states/cities should ship all theirs to ones who say they are sanctuaries. Let them deal with it.
Read: Illegal Aliens May Soon Qualify For First Time Buyer Home Loans In PRC »
The assessment done by the state Department of Environmental Conservations also claims that 
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When Jovita Neliupšien? left her home in Lithuania for Washington, she brought along a closet’s worth of business wear – and left behind the emergency ”go” bag that many of her countrymen keep nearby in case of a Russian attack.
