11 October 2007
OK, No Way that I Saw THIS Coming
It appears that illegal aliens are better credit risks for mortgages than citizens and legal residents.
Because they have no SSN to provide, banks made loans involving far more research and verification, so they are not defaulting.
When I read about it, it makes sense, but I never would have come up with this on my own.
Because they have no SSN to provide, banks made loans involving far more research and verification, so they are not defaulting.
When I read about it, it makes sense, but I never would have come up with this on my own.
Labels:
bubble
,
Economy
,
Housing Crash
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