‘California Dream for All’: Bill to Give Illegals State-Backed, Interest-Free Homeowner Loans
Now, Democrat Assemblyman Joaquin Arambula has introduced a bill to expand the California Dream for All Shared Appreciation Loans program that was originally intended to help low- and middle-income individuals buy a home. California already has a crippling problem with Americans citizens who are homeless. Arambula wants the program to include illegal immigrants. The bill would grant illegal aliens interest-free state loans to buy their first homes. The state-backed loans are 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. Arambula’s bill would allow money from California’s general fund or other state fund may be appropriated to pay this program.
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It’s the “California Dream for All.”
Well… not all, exactly, but the swarm of military-age migrants who are illegally crossing into the Golden State from Mexico are sure thrilled with Assembly Bill 1840.
The bill was introduced earlier this year by Democrat Assemblyman Joaquin Arambula and would grant the law-breakers interest-free state loans to buy their first homes, even as thousands of homeless Americans blanket California’s streets with tents.
According to the Los Angeles Times, “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,” the Times explains. “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.”
But what about the nearly 100,000 migrants who’ve invaded San Diego in the past six months alone? How will American citizens residing in California pay for their dreams to come true?
Is Newsome offering illegal immigrants almost interest free loans in California for home ownership and in return , democrats ballot harvest illegal votes ?
— plainguy18❌ (@plainguy18) March 1, 2024
It’s that “ambiguity” that Arambula hopes to clear up with the updated AB 1840.
“It’s that ambiguity for undocumented individuals, despite the fact that they’ve qualified under existing criteria, such as having a qualified mortgage,” Arambula told the Times. “Underscores the pressing need for us to introduce legislation.”
The revised bill now stipulates that an applicant under the California Dream for All Program “shall not be disqualified solely based on the applicant’s immigration status.”
“Without the explicit status, undocumented individuals may be discouraged or left out of the opportunity to participate, Arambula said,” according to the Times.
And God forbid we discourage illegal migrants.
“Homeownership has historically been the primary means of accumulating generational wealth in the United States,” Arambula said. “The social and economic benefits of homeownership should be available to everyone.”
To EVERYONE, and California citizens should pay for it.
Gateway Pundit: https://www.thegatewaypundit.com/2024/03/illegal-aliens-get-interest-free-home-loans-under/