California To Give Interest-Free Mortgages to Illegal Immigrants?

Undocumented immigrants, otherwise known as illegal aliens, have been wrongfully excluded from the opportunity to build “generational wealth,” and the California legislature is considering a bill to remedy this injustice. 

No, I am not kidding. California is going to great lengths–providing interest-free loans–to ensure that people who have no legal right to even be in the United States get to put down roots for themselves and their families.

https://t.co/O04MAKEoYp there is alot in that bill

— hippo (@cartoon_ism) March 1, 2024

Undocumented immigrants could have a new pathway to the American dream of owning a home.

Assemblymember Joaquin Arambula (D-Fresno) introduced Assembly Bill 1840 last month to expand the eligibility requirement for a state loan program to clarify that loans for first-time buyers are available to undocumented immigrants.

The California Dream for All Shared Appreciation Loans program that launched last March by the California Housing Finance Agency offered qualified first-time home buyers with a loan worth up to 20% of the purchase price of a house or condominium. The loans don’t accrue interest or require monthly payments. Instead, when the mortgage is refinanced or the house is sold again, the borrower pays back the original amount of the loan plus 20% of the increase in the home’s value.

Yes, I think we all can agree that a great injustice has been done to people from Guatemala or China who illegally crossed the border, and are likely getting benefits unavailable to most Americans, and a free pass to travel the country with no identification. 

Up until now they haven’t had free money showered on them to purchase a home. Good thing California has a bill to fix that. Next year they can start paying reparations to compensate for the oversight. No doubt it was due to systemic racism and xenophobia. 

If Assembly Bill 1840 is passed, it would broaden the definition of “first-time home buyer” to include undocumented immigrants.

Without the explicit status, undocumented individuals may be discouraged or left out of the opportunity to participate, Arambula said.

“Homeownership has historically been the primary means of accumulating generational wealth in the United States,” he said. “The social and economic benefits of homeownership should be available to everyone.”

I’m going to have to do a deeper dive to see if there is any federal money being poured into this program, either directly (probably not) or indirectly (almost certainly), but the fact is that with money being fungible and the gazillions of dollars we pour into California the fact is that taxpayers around the country are subsidizing this insanity. 

Opposing a program like this isn’t motivated by malice or xenophobia; these recipients are not supposed to be here in the United States at all, and funding a program to ensure they put down roots here and “build generational wealth” is utterly insane. 

But fear not; if and when any of these recipients are ordered to leave the country (fat chance!) the argument will be used that it will be unjust to do so as they are homeowners who are “building generational wealth.” This isn’t just excessive generosity using tax dollars; it is a program designed to make it almost impossible to deport people. 

Just as DACA was. It is all about making as many illegal immigrants permanent fixtures in our communities. 

The lawmakers can’t even argue that they are extending the program because they have extra money to burn and want to help as many people as possible. The program ran out of money in less than 2 weeks, and California is in such a big financial hole right now that daylight isn’t even visible from the bottom. 

There is a reason they call it the “Left Coast.”

California, Oregon, and Washington are being ruined by the people who run those states. The resources, natural beauty, and economic potential make these places among the most desirable in the world to live. 

Their politicians? The less said the better right now. I want to go into the weekend without being enraged.