What's new
By:
Christian Community Forum

Register a free account today to become a member! Once signed in, you'll be able to participate fully in the fellowship here, including adding your own topics and posts, as well as connecting with other members through your own private inbox!

Trump admin bars illegal migrants and non-permanent residents from receiving taxpayer-backed mortgages

TCC

TCC

Well-known

The Trump administration will no longer allow illegal migrants to receive Federal Housing Administration (FHA) mortgages, Housing and Urban Development Secretary Scott Turner announced Wednesday.

“Today, HUD terminated Biden’s taxpayer-backed FHA mortgages for illegal aliens,” Turner wrote on X. “American taxpayers will no longer subsidize open borders by offering home loans to those who enter our nation illegally.”
 
Both FHA and USDA both revised their mortgage loan residency requirements this week, putting my company and the industry in a slight shock. I totally agree with FHA stopping DACA borrowers (here illegally) from getting loans, but those with valid visas and work permits (EAD) will now be excluded too.

Fannie Mae and Freddie Mac are winding down their Special Purpose programs now too, which will eliminate down payment assistance for many low income borrowers.
 
Still hoping for lawful but firm implementation of things to stop mortgage/home/rental conglomeration investment groups to buy up massive numbers of houses with cash and even huge bonus extra fees that prevents every day citizens (young and old too) from buying a house. Hard to believe they actually can rent these high inflated properties after the fact.
 
You must log in or register to reply here.
Back
Top