https://www.thecentersquare.com/california/article_34b5de6a-64a4-11ef-aabd-abc92bc9da7a.htmlCalifornia Senate passes 0 down, 0 payment home 'loans' for illegal immigrants
(The Center Square) - The California Senate passed a contentious bill to allow for undocumented immigrants to use the state’s zero-down, zero-interest home “loans” program despite national backlash following coverage of the bill’s looming passage.
With 23 votes for and 11 votes against — including all nine Republicans and Democratic State Sens. Catherine Blakespear, D-Encinitas, and Dave Min, D-Irvine — the bill narrowly passed the 21 vote majority threshold in the Senate.
California’s Dream for All Shared Appreciation Loans program allows applicants to secure “loans” of up to $150,000 or 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. In exchange, the state receives the original loan amount plus 20% of the appreciated gain when the home is refinanced, sold, or transferred.
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“With many legal residents not able to afford a home, should we really be giving free cash to illegal immigrants? Every dollar that goes to an illegal immigrant is one less dollar available to legal residents including veterans, teachers, and families,” said California Senate Minority Leader Brian Jones, R-San Diego, in a statement. “California already spends $5 billion per year on free healthcare for illegal immigrants—will it ever be enough for Democrats’ political agendas?”