Immigrants are often taken advantage of. This article illustrates how many have been duped into mortgages they cannot afford which has caused a huge problem in this country. Many lending companies are laying off workers due to this massive collapse.
How the Subprime Mess Hit Poor Immigrant Groups
By JONATHAN KARP and MIRIAM JORDAN
December 6, 2007; Page A1
SOUTH SAN FRANCISCO, Calif. — Naira Costa, a 27-year-old housekeeper, met her husband at Message of Peace, an evangelical church that is a spiritual and social haven for Brazilians in the Bay Area. When the couple considered buying a house a few years ago, the church’s head deacon, Soario Santos, ministered to that need, too.
Mr. Santos, a fellow Brazilian, served the Pentecostal church on nights and weekends. During the day, he worked as a loan officer at a mortgage brokerage owned by a Brazilian immigrant. Mr. Santos and other church officers also working at the same real-estate business routinely approached churchgoers to encourage them to buy homes.
Another twist in this story is the fact that Mr. Santos was a minister in his church. The following exchange does not sound like that of a minister to me.
About a month after their departure, Ms. Costa says, Mr. Santos called hurling threats. “I can prove you are the one who brought me fake papers,” she recalls him telling her.
When Ms. Costa said she had done nothing wrong and would find a lawyer, she says he warned: “If the FBI or Immigration gets involved, you’re done with because you’re illegal.”
And here’s where we see the abuse of immigrants come in. It was ok to sell a house and approve a loan for an “illegal immigrant”, but when things go bad that is used against them when they attempt to take action against wrong done to them. This is why we need to protect these immigrants from such abuses.