Illegal Aliens Will Get Interest-Free Home Loans Under New Democrat California Bill
California Democrats once again prioritized illegal aliens over American citizens, this time by introducing a bill that would allow illegals to receive interest-free home loans.
Democrat assembly member Joaquin Arambula (Fresno) last month introduced Assembly Bill 1840 that would extend a first-time homebuyer loan program to illegal aliens.
“It’s that ambiguity for undocumented individuals, despite the fact that they’ve qualified under existing criteria, such as having a qualified mortgage, underscores the pressing need for us to introduce legislation,” Arambula said in an interview.
“Homeownership has historically been the primary means of accumulating generational wealth in the United States,” he said. “The social and economic benefits of homeownership should be available to everyone.”
Assemblymember Joaquin Arambula (D-Fresno) introduced Assembly Bill 1840 last month to expand the eligibility requirement for a state loan program to clarify that loans for first-time buyers are available to undocumented immigrants.
The California Dream for All Shared Appreciation Loans program that launched last March by the California Housing Finance Agency offered qualified first-time home buyers with a loan worth up to 20% of the purchase price of a house or condominium. The loans don’t accrue interest or require monthly payments. Instead, when the mortgage is refinanced or the house is sold again, the borrower pays back the original amount of the loan plus 20% of the increase in the home’s value.
The original program was established in an effort to help low- and middle-income individuals buy a home, but the program doesn’t address eligibility based on immigration status, Arambula said.
This comes after California became the first state to provide “free” healthcare benefits to illegal aliens in January.
That taxpayer-funded healthcare scheme also includes sex changes for illegal immigrants, the cost of which is believed to top $3 billion.
Meanwhile, a Harvard housing report found that home ownership has become increasingly unaffordable for California citizens despite the exodus of people leaving the state.
“Millions of households are now priced out of homeownership, grappling with housing cost burdens, or lacking shelter altogether, including a disproportionate share of people of color, increasing the need for policies to address the national housing shortfall at the root of the affordability crisis.”
Imagine if Democrats cared about their own citizens the same way they do for illegal aliens.
https://www.infowars.com/posts/illegal-aliens-will-get-interest-free-home-loans-under-new-democrat-california-bill/
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