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  1. #1
    Senior Member
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    Jun 2005
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    Question Do you bank at Citibank?

    Doing Research? : Newsletter

    Monthly Outrage

    Can't Afford to Buy a House in San Diego? Become an Illegal Alien.

    Source: Immigration Report

    The San Diego housing market is one of the most expensive in the country and many first-time home buyers are simply priced out of the market. Even if you can somehow scrape together enough money for a down payment, rising interest rates and mortgage insurance make it exceedingly difficult to become a homeowner. That is, unless you happen to be an illegal alien.

    If you are in the country illegally, don’t have a valid social security number and use a taxpayer ID number instead, you’re in luck. The Association of Community Organizations for Reform Now (ACORN) has persuaded Citibank, one of the nation’s largest banks, to help out. Illegal aliens in San Diego can purchase a home at below market interest rates, receive down payment assistance, and not have to take out mortgage insurance like other risky customers do.

    A similar program instituted by Wells Fargo in the Los Angeles area attracted bad publicity, so Citibank is trying to keep quiet the fact that illegal aliens can get better deals on home mortgages than citizens. The position of the banks is that as long as there is a buck to be made off of illegal aliens, they are going to keep marketing to them. As Chuck Lemoine, a senior vice president at Wells Fargo said, “It’s not only the right thing to do, it’s good business.”

    Citibank (West) FSB
    PO Box 348480
    Sacramento, CA 95834-8480


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  3. #2
    Senior Investor + HDG gator's Avatar
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    Jun 2005
    USA, Flordia
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    That's why I sent them back their credit card along with a note calling for a boycot of all Citi Banks.

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