Soledad Aviles, an immigrant from Mexico with a 6th grade education who can't read or write English and makes $9 an hour, was approved for a mortgage of $615, 000 by Washington Mutual. It should be noted off the bat that Washington Mutual is one of many banks that accept the Matricula Consular ID card as proof of identity and which is easily forgable. I assume Aviles is not an illegal alien (but who knows considering the source of this story and the fact that they like to omit those little tidbits all of the time).

The LA Times gives us his sad story below as he is forced to then rent out his house to illegal aliens to make the payments and sleep on a couch.

Washington Mutual should be brought up on charges along with all of the people who touched this mortgage and put it through. All those living at the residence who are illegal, including Aviles and his wife if found to be so, should be deported and the house should be seized and sold off at auction with all proceeds going towards the border fence, interior enforcement and the prosecution of businesses who hire and make loans to illegal aliens. The government also in no way should allow any bailout money for these sub-prime mortgages to go to companies that have actively courted illegal aliens, like Washington Mutual, Wells Fargo and Bank of America. Money that - need I remind you - is actually your money as a US citizen, since it comes straight out of your taxes.

What this story doesn't note is that many of these so called "Spanish speaking" people they are referring to are actually illegal aliens.

But guess what, they intend to win out in the end as another shark in the water that feeds off of illegal aliens, lawyers, are suing for millions and million on their behalf.

Soledad Aviles dreamed for years of owning a home, with a plot of land where he could grow corn and chiles as he did in his native Mexico. So he felt blessed last year when he learned he could buy a three-bedroom, single-story stucco house on West La Verne Avenue in Santa Ana.

Referred to a local loan broker by a trusted friend, he borrowed the entire purchase price of $615,000 from Washington Mutual at a high interest rate typical of sub-prime loans. The monthly payment, as he says he understood it, would be $3,600 -- steep for a glass cutter who made $9 an hour -- but Aviles counted on his wife and three of his six daughters, who also worked low-paying jobs, to contribute.

"We took out our pencils, figured out our take-home pay and figured out that if we all pitched in, it would work," said Aviles, 54, a stoop-shouldered, soft-spoken man with a sixth-grade education from Mexico.

Relying on the broker's word, he signed loan documents written in English, a language he neither speaks nor reads, Aviles said. He was shocked to learn afterward that the monthly payment would not be $3,600, but $4,800 -- a price that forced him to rent out bedrooms, the garage and an enclosed porch while he and his wife slept on the couch. He fed his family with food from friends and corn he grew.

...

"We think this is just the tip of the iceberg, in terms of the breadth and depth," said Steve Harding, Santa Ana's deputy city manager. Apart from the language barrier, he said, many first-generation immigrants might have been especially vulnerable to sub-prime lending because they avoided checking accounts and credit cards, which prevented them from qualifying for regular loans.

Let me just break here and point out that the only types who avoid checking accounts and credit cards are illegal aliens and those being paid under the table who avoid taxes. Legal immigrants don't have this issue because they have proper legal documents.

The state Department of Real Estate, nonprofits and the Mexican consulate also have reported a rise in mortgage complaints, many of them from homeowners saying they signed documents they didn't understand.

The nonprofits they mention are most certainly those in favor of illegal immigration and the ones who were pushing for these loans to be granted to illegal aliens in the first place. As for the Mexican Consulate... what the hell are they doing sticking their nose in our banking business now?

... Kerstin Arusha, a directing attorney at the nonprofit Law Foundation of Silicon Valley, said that Spanish speakers, along with the elderly, "seem to be hardest hit by both sub-prime lending and predatory lending. There are many borrowers out there that were misled about the terms of the loan."

The Law Foundation is suing a broker, real estate agent and lender in federal court on behalf of nine Santa Clara County families, many of whom speak only Spanish

...

in Orange County, the district attorney's office has not reported an increase in prosecutions for fraudulent lending. Elizabeth Henderson, a prosecutor in the county's fraud unit, said many such crimes go unreported in immigrant communities because of a distrust of law enforcement and confusion over what had occurred.

A distrust of law enforcement? As we know every law abiding legal immigrant mistrusts law enforcement don't they?

[Aviles is] sitting in his Santa Ana home, waiting for the bank to kick him out or for his kidney to kill him... Aviles took out two loans, one for $492,000 at 8.5% interest and another for $123,000 at 11.1% interest. But he and his family struggled to meet the payments, even after the house was crammed with renters.

Eddie B., makes this well made point.

WHERE DO YOU START HERE? THE FACT THAT HE IS AN INVADER? THE FACT THAT HE CAN’T READ ENGLISH AND IS TAKING OUT A LOAN FOR $600,000 AND MAKES $9.00 AN HOUR ($18,000 A YEAR…)? THE FACT THAT HE IS NOW RUNNING A FLOP HOUSE FOR INVADERS AND BREAKING FIRE MARSHAL CODES, HEALTH CODES, LOCAL COMMUNITY CODES? I MEAN, WHERE DO YOU START?