Meanwhile, in the Democrat-run disaster that is California…
Illegal immigrants will receive interest-free home mortgage loans under a new California bill.
Democrat Assemblymember Joaquin Arambula (Fresno) recently introduced Assembly Bill 1840, aiming to extend a first-time homebuyer loan program to illegal aliens.
If the bill becomes law, illegal immigrants will be eligible for a new program offering a loan worth 20% of the home’s purchase price. The loan requires no monthly payments and doesn’t accrue interest. Instead, the borrower repays the loan when they refinance or sell the property, including the original loan amount plus 20% of any increase in the property’s value.
“It’s that ambiguity for undocumented individuals, despite the fact that they’ve qualified under existing criteria, such as having a qualified mortgage,” California Democrat Joaquin Arambula said in an interview. “Underscores the pressing need for us to introduce legislation.”
The legislation passed a key Senate committee this week, bringing California one step closer to offering interest-free, zero down payment home loans to illegal immigrants.
As reported by FOX News:
A key California Senate committee advanced a bill this week that would allow migrants and illegal immigrants to use a program aimed at helping widen the swath