Vets are homeless. Young people, working two jobs can not afford to buy a home. But, the Sacramento Democrats want to give up to $150,000 to law breakers—people under Federal law that should be deported are instead going to be given money to buy a home.
“If the bill becomes law, illegal aliens will be eligible for a new program that offers a loan worth 20% of the purchase price of the residential property. There are no monthly payments and no interest accrues on the loan. Rather, the loan is paid back when the borrower refinances or sells the property. The borrower will have to pay back the original loan plus a 20% increase in the value of the property.
Of course, due to the real $80 billion deficit, and the fact the approved money gave NO money to this, there is no money available. Notice they are not doing this for veterans.
California Democrats Vote to Force Taxpayers to Subsidize $150,000 Down Payment on Homes for Illegals – But the CA Department of Finance Confirms the Program Has No Money!
by Cristina Laila, Gateway Pundit, 8/27/24 https://www.thegatewaypundit.com/2024/08/california-democrats-vote-force-taxpayers-subsidize-150000-down/
California Democrat state senators on Tuesday overwhelmingly voted to pass a bill that would give illegal aliens $150,000 interest-free home mortgage loans.
Illegal aliens will get zero down payment, interest-free home mortgage loans under this new bill.
California’s Democrat governor Gavin Newsom hasn’t said whether he will sign the bill.
Democrat assemblymember Joaquin Arambula (Fresno) recently introduced Assembly Bill 1840 to extend a first-time homebuyer loan program to illegal aliens.
If the bill becomes law, illegal aliens will be eligible for a new program that offers a loan worth 20% of the purchase price of the residential property. There are no monthly payments and no interest accrues on the loan. Rather, the loan is paid back when the borrower refinances or sells the property. The borrower will have to pay back the original loan plus a 20% increase in the value of the property.
California’s Democrat lawmakers in the State Senate approved AB 1840 23-11.
The bill will head to the California assembly for final approval after lawmakers in the senate made changes.
After the California Senate advanced the bill allowing illegal aliens to apply for the state’s first-time homebuyer’s program, the California Department of Finance confirmed the program has no money to give.
The mortgage loan program for illegal aliens wasn’t given any new money after the state budget was agreed to in June.
Red ink has always worked for the democrats and the liberals of California. Just like credit card debt. We will address the debt when it comes due. Unfortunately for California, the debt payers, the middle income tax paying earners are leaving the state.