REPORT: State advances 0 down, no payment home ‘loans’ for illegal aliens

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From Local 12 News: The California Senate Appropriations Committee advanced a bill to allow undocumented immigrants to make use of the state’s zero down, no payment home “loan” program, an expansion the legislature says would create “significant cost pressures.”

The social and economic benefits of homeownership should be available to everyone. As such, the California Dream for All Program should be available to all,” wrote bill author Assemblymember Joaquin Arambula, D-Fresno. “When undocumented individuals are excluded from such programs, they miss out on a crucial method of securing financial security and personal stability for themselves and their families.

AB 1840, which already passed the Assembly and now faces a floor vote in the Senate, would prevent the state’s California Dream for All Shared Appreciation Loans program from denying individuals on the basis of their immigration status. This program allows applicants to secure “loans” of up to 20% of the home’s purchase price — or, about what a typical down payment is — with zero down payment on this state loan, and no payments.

The state’s “loan” can potentially be repaid to the state when the home is refinanced, sold, or transferred, with the borrower paying back the original loan amount plus 20% of any increase in value on the property. It’s not clear what happens if a family decides to hold on to a home as there are no provisions on how long a property can be held for, which means certain kinds of trusts could potentially allow the loan to not be paid back.

The bill’s author, Assemblymember Joaquin Arambula, D-Fresno, is touting the need for “affordable housing” for everyone.

Mike Netter, who was behind the massive effort to recall California Gov. Gavin Newsom, shared more details about Arambula:

The mugshot that needs to be shared across America!! Joaquin Arambula @AsmArambula is the CA State Assembly person behind AB1840, which would allow illegal immigrants to obtain a home loan. But not just any loan – one that doesn’t accumulate interest or require monthly payments.

So who is he, exactly?
– 2017: Appointed to the High Speed Railway Authority( that’s right – the high speed train to nowhere)
– 2018: Arrested for Willful cruelty to a child, his own daughter who was in elementary school.
– 2023: An illegal Chinese Lab was discovered in his district and nothing is being done
about it.

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