Mamdani's corrupt NYC to *give* NON-citizens up to $100,000 from taxpayers to buy homes

Young Americans born in the U.S. can’t afford a starter home, so the mayor of NYC plans to give 'em $100,000 for a downpayment.

Just kidding!  Instead the communist Muslim mayor of New York City has unveiled a plan to give yet more tax dollars to NON-citizens--including illegal aliens.  And this time it's a whopper: up to $100,000 in taxpayer dollars to non-citizens for a downpayment and closing costs to buy a home.  And the city agency won’t even ask if applicants are here legally. 

Mamdani's lackeys made sure to tell non-citizens they don’t need a Social Security number--and no traditional credit check, but instead a thing called a "municipal credit check," at least initially.

The scheme will use federal as well as state tax dollars.  It's supposed to be a loan, but just like student "loans" as the Dems would have it, the borrower won't have to repay a dime if they stay in the home long enough.

Summary: it's an explicit plan to give the money to non-citizens, including those here illegally.

While you mull that over for a minute, consider that much the same thing was set in motion by Bill Clinton and his Democrat thieves in congress way back in 1992:

If you're under age 45 or so you probably don't remember the "mortgage meltdown" of 2008.  It was set in motion by Democrats (led by Bill Clinton) in 1992, when congress forced banks to make low-interest mortgage loans to people who had no income, no job and no assets.  As you could guess, once loafers learned about the new rule, such loans became so common that people in the lending biz gave 'em a catchy name: "Ninja loans:"  No income, job or assets.

Cute, eh?

Normally no bank would loan $200,000 or more to an applicant who seemed overwhelmingly likely to NOT be able to make their mortgage payments.  But Democrats are very cunning, so they passed a law or rule saying lenders could sell the loan to either Fannie Mae or Freddie Mac (the two giant federal home loan agencies), which were required to buy it.  So the fed agencies would repay the entire loan amount to the originating bank, and would then supposedly receive future payments, just as the originator would have.

One small problem: the pipo who applied for "ninja" loans rarely made more than a few payments (out of 240 or so) because they didn't have the income.  And they'd heard that even if you stopped making mortgage payments, because the borrower got free legal help from NGOs, evicting delinquent borrowers would take the federal agencies at least three years. 

That meant "ninja borrowers" got three years rent-free, with free legal provided by NGOs.  

As a result of this moronic plan, both federal lending agencies ended up losing tens of billions of dollars.  It was SO predictable--and SO dumb--that books were written about the stupidity.  There was even an acclaimed movie, "The Big Short." 

Worse yet, when the government agency finally succeeded in evicting the deadbeat borrowers, many of the homes were so torn up that investors would only pay a fraction of their original value.  In many cases copper pipes had been ripped out and sold for cash, along with all the appliances.  

These foreclosed, trashed homes became the notorious "HUD homes," as the fed lenders signed 'em all over to the Dept. of Housing and Urban Development.  So even auctioning off the foreclosed (trashed) homes only recovered a fraction of the loan amount the agencies paid the original lenders.

Such a deal, eh?  This is what passes for brilliant government policy, eh?  And now Mamdani is doing essentially the same thing: giving $100K to illegals.  Wow.

So once again the socialist/commie Muslim mayor panders to illegal aliens, giving $100K to each applicant, no questions asked.  But only to non-citizens.

"White privilege," huh?

https://moonbattery.com/illegal-aliens-to-be-handed-100000-to-buy-home-in-new-york/

Via Independent Sentinel:

https://www.independentsentinel.com/nyc-to-give-100k-city-federal-tax-dollars-to-noncitizens-for-1st-homes/