Posted on October 8, 2008

HUD: Five Million Fraudulent Mortgages Held by Illegals

KFYI (Phoenix, Arizona), October 7, 2008

Some five million fraudulent home mortgages are in the hands of illegal aliens, according to the U.S. Department of Housing and Urban Development.

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The problem began years ago when banks were forced to give mortgages without confirming social security numbers or borrower identification. {snip}

One illegal alien was arrested this year in Tucson after allegedly using a stolen social security number to buy two homes and rack up over $780,000 in bad debt.

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