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Morris Invest’s Real Estate Wisdom: A Blog for Savvy Investors

Stealing the American Dream – CA Proposes Zero-Down Home Loan Handout to Illegal Immigrants

Stealing the American Dream – CA Proposes Zero-Down Home Loan Handout to Illegal Immigrants

In a bold move likely to spark intense debate regarding the crisis at the U.S. border, California lawmakers have put forward a controversial proposal — Assembly Bill 1840. The bill, pushed by Assemblymember Joaquin Arambula (D-Fresno), is an amendment to the "California Dream for All Shared Appreciation Loans" program. It seeks to extend the state's zero-down, no-interest, no-monthly payment home loan program to include illegal immigrants. If the bill goes into effect, it can set a precedent that may be adopted by additional states across the country that have similar home loan programs currently intended for U.S. citizens only. This, in turn, could effectively set the stage for the American Dream of homeownership to be stolen from actual U.S. citizens and handed over to undocumented illegal...

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