Bro, at what point do we stop complaining about California and just sort of point and laugh?
Like, they're already giving illegal immigrants "free" healthcare, and along with that, free "gender-affirming care," and now they're giving us this.
Illegal immigrants will be offered zero interest, zero monthly payment mortgages equal to 20% of the home or condo's value. And they only have to pay off the loan when the house is sold or refinanced. And who knows if they'll be gone to another sanctuary city by then!
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.
The original program was established in an effort to help low- and middle-income individuals buy a home, but the program doesn't address eligibility based on immigration status, Arambula said.
So of course California was already handing out these loans — 2,300 of them last year — but now they're opening them up to illegal immigrants, too. I'm sure all the low-income folks in California will love that! Sharing is caring!
And with that 20% number you might be thinking, meh, it's not that much money. However, a "cheap" house in California goes for around $500,000, meaning these illegal immigrants, under this new bill, could be taking out a loan for $100,000. And how are they going to pay that back, even without interest?
As I alluded to before, if I was an illegal I'd just walk out on it, move somewhere else. California can't make me pay the bill; that's racist.
Luckily (I guess?) there are only a certain number of these loans to go around.
The California Dream for All Shared Appreciation Loans program hit its applications limit of about 2,300 applicants in 11 days last year and the program was halted.
This year, the program will replace its first-come, first-serve basis with a lottery. Interested people can submit their application now, with the lottery taking place in April.
Low-income Californians, you're about to be placed in a lottery with a ridiculous number of illegal immigrants.
I hope you're happy with the way your state is run, and I'm sure you'll keep voting blue for more of the same!
Enjoy the ride before it crashes.
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