Meanwhile in California Democrats hell…
Illegal aliens will get interest-free mortgages under a new California bill.
Democratic Assemblyman Joaquin Arambula (Fresno) recently introduced Assembly Bill 1840 to expand the first-time home buyer loan program for illegal aliens.
If the bill becomes law, illegal aliens would be eligible for a new program that provides a loan of 20% of the purchase price of a residential property. There are no monthly installments and no interest on the loan. Instead, the loan is repaid when the borrower refinances or sells the property. The borrower will have to repay the original loan plus a 20% increase in the value of the property.
“It's this ambiguity for undocumented individuals, despite the fact that they qualify under existing criteria, like having a qualified mortgage,” Joaquin Arambula, a California Democrat, said in an interview. “It underscores the urgency for us to introduce legislation.”
The Los Angeles Times reported:
Assemblyman Joaquin Arambula (D-Fresno) introduced Assembly Bill 1840 last month to expand eligibility requirements for the state loan program to make clear that loans for first-time buyers are available to undocumented immigrants.
The California Dream Loan for All program, launched by the California Housing Finance Agency last March, provided eligible first-time homebuyers with a loan of up to 20% of the purchase price of a home or condominium. Loans do not accrue interest or require monthly payments. Instead, when the mortgage is refinanced or the home is sold again, the borrower repays the original amount of the loan plus 20% of the increase in the value of the home.
The original program was created in an effort to help low- and moderate-income individuals purchase a home, but the program does not address eligibility based on immigration status, Arambula said.
Effective January 1, 2024, California became the first state to offer “free” health care benefits to illegal aliens.
