Tuesday, October 7, 2008
Immigrants -- especially undcoumented immigrants -- have been blamed in some quarters for the mortgage credit crisis (here). "Home loans held by illegal immigrants in California and across the nation generally have had fewer delinquencies than similar loans held by U.S. citizens, in part because of stricter lending requirements, according to banks, insurers and Realtors. Every indication is that their performance is better than the average" mortgage account, said Tim Sandos, president of the National Assn. of Hispanic Real Estate Professionals." Los Angeles Times, Oct. 6, 2008.