AHA! Support my assertions on SCAMS!

Illegal immigrants were able to buy U.S. homes during the boom years, either by showing evidence that they pay taxes or by simply presenting false documents.

Many of them took out high interest fixed-rate loans or subprime mortgages with a low entry rate that later rose sharply. Experts say language difficulties made them more vulnerable to being offered, and taking, bad deals.

“They were more exposed to abuse,” said Alejandra Louden of the Congressional Hispanic Caucus Institute’s housing department, which carried out a recent study on Latino home loan foreclosures. “Documents were in English and explained in Spanish, and some vital explanation would be missing.”

Lee ADDS: For more information see my BLOG respecting FORECLOSURE SCAMS!

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