Archive for the ‘tips’ tag
Mortgage Rates In The Us
Illegal immmigrants to the US have a lower mortgage default rate than US citizens?
Here’s a fascinating story from The Wall Street Journal: “Despite the downturn of the Mortgage Market, a type of home loan has remained surprisingly sturdy: one extended to illegal immigrants….For loans more than 90 days in arrears, ITIN mortgages have a delinquency rate of about 0.5%, according to independent estimates. That compares with 1% for prime mortgages and 9.3% for subprime mortgages extended to those with spotty credit histories.”
http://www.bloggingstocks.com/2007/10/09/illegal-immigrants-dont-default-on-mortgages/
That and a dollar will get you a cup of coffee in a real cheap restaurant! They are still illegals. It doesn’t matter if they are good with their credit.