LA Times

Soledad Aviles dreamed for years of owning a home, with a plot of land where he could grow corn and chiles as he did in his native Mexico. So he felt blessed last year when he learned he could buy a three-bedroom, single-story stucco house on West La Verne Avenue in Santa Ana.

Referred to a local loan broker by a trusted friend, he borrowed the entire purchase price of $615,000 from Washington Mutual at a high interest rate typical of sub-prime loans. The monthly payment, as he says he understood it, would be $3,600 — steep for a glass cutter who made $9 an hour — but Aviles counted on his wife and three of his six daughters, who also worked low-paying jobs, to contribute.

“We took out our pencils, figured out our take-home pay and figured out that if we all pitched in, it would work,” said Aviles, 54, a stoop-shouldered, soft-spoken man with a sixth-grade education from Mexico.

Relying on the broker’s word, he signed loan documents written in English, a language he neither speaks nor reads, Aviles said. He was shocked to learn afterward that the monthly payment would not be $3,600, but $4,800 — a price that forced him to rent out bedrooms [to more invaders], the garage and an enclosed porch while he and his wife slept on the couch. He fed his family with food from friends and corn he grew.


14 Responses to “A Debtor's Nightmare For Invading Idiots”

  1. 1 Eddie B.

    “purchase price of $615,000 from Washington Mutual at a high interest rate typical of sub-prime loans. The monthly payment, as he says he understood it, would be $3,600 ? steep for a glass cutter who made $9 an hour…”

    THIS MAKES TONY SOPRANO LOOK GOOD!

    WHERE DO YOU START HERE? THE FACT THAT HE IS AN INVADER? THE FACT THAT HE CAN’T READ ENGLISH AND IS TAKING OUT A LOAN FOR $600,000 AND MAKES $9.00 AN HOUR ($18,000 A YEAR…)? THE FACT THAT HE IS NOW RUNNING A FLOP HOUSE FOR INVADERS AND BREAKING FIRE MARSHAL CODES, HEALTH CODES, LOCAL COMMUNITY CODES? I MEAN, WHERE DO YOU START?

    WE HAVE LOST OUR MINDS TO LET THIS HAPPEN.

  2. 2 BEADALONG

    Not only that, but what does this say about the broker and Washington Mutual (who also has signs in Spanish in their banks) and accepts matricular cards?

  3. 3 bdiddy

    $615,000 for a 3 bedroom single-story house. Had he learned some English and do a little research; he would have known that California was not the place where dreams come true for people like him. Orange county is one of the most expensive in the U.S. 9 bucks an hour - that’s nowhere enough to feed 6 mouths - let alone afford any amount of mortgage.

  4. 4 BEADALONG

    That is expensive. The San Francisco Bay area isn’t much better. (In my neighborhood-it’s $750,000 for a 3 Bdrm-2 Bath). That’s why more people have and are moving to the Central Valley.

  5. 5 cthelight

    Whoa, This is garbage. How did they get the loan
    to start with…? Someone please tell me.
    A citizen of this country could not, not even
    with fifty million letters of explanation that you
    have to go through to purchase a home.

    I do not understand.

    At 9 an hour, I know of no one in this country who
    has a legal SS number, who could even rent much
    less purchase a house.

    And Washington Mutual did this? There had to be
    some serious illegal financing and probably stealing
    of someone else/s credit.

    I am NOT buying this story. Wrong, just wrong.

  6. 6 seven_staarten

    boo-f*cking-hoo.

    stupid id stupid, in any language.

    the foreclosures come; the illegals remain.

  7. 7 roger

    What is worse is the government wants to bail these idiots out with billions of tax dollars.

  8. 8 Matthew

    The banks are renting to the illegals. When an American looses their home the banks rent the homes out to anyone who will rent them. With all of these banks sitting on thousands and thousands of foreclosed homes they rather get a little bit of money coming in, that’s why they are renting to the illegals or anyone with a heart beat.

    This guy’s story (if true) should be investigated and proper charges should be filed on both party’s involved. And when this guy and all of the other illegals who were handed out loans like candy finally go into default, it is you and I who pay for the losses. We end up paying higher interest rates and more new and even more clever bank fees. Remember that these home sales transactions are FDIC insured against fraud and theft. The F in FDIC means federally, and that means taxes, your and my taxes that go to reimburse these corrupt home lenders. FDIC is the reason why they could give a sh!t about whether or not these illegals have false information or not, IT’S INSURED by the government.

  9. 9 George(formerly-Ed)

    Not to mention that these invaders are the ones who caused housing cost to sky rocket in the first place the two things that have caused prices of every thing to go so high is the illegals & the price of oil.

  10. 10 Sandman

    Back in 2000 when the economy was doing bad, the fed decided that pumping the system with cheap dollars could have a temporary effect on the economy mostly through home and business loans. That poison pill did work for a while, almost anybody could get a loan, even if they had false documents or made $10 an hour. My brother’s ex-wife did babysitting for a living and bought a 3-2 1500 sq ft house in San Diego for $500,000!!! Anyway, now the pill is wearing off and the hangover is begining. Some parts of the country are way over inflated and that correction WILL happen. The problem is now, there are hundreds of billions of bogus and un-payable dollars out there that the FDIC will have to eat. That translates to the taxpayer footing the bill. The over-inflated housing market in California, Florida and other places is so huge that it could trigger an economic depression-or worse, the dollar could loose so much of its value that hyperinflation would kill the middle class fast. I don’t think that having kids right now would be a good idea, I see a storm-a-brewin’.

  11. 11 the marlboro man

    I can,t see how this could happen,Ihaveowned 5 houses and everytime to get a loan was a realpain in the ass?This dumbass thought he could pay 3600 a mo.on the incomes that were comming in .plus all the orther,thats more like $4200 a mo. before they eat?How could this happen ?

  12. 12 illinoisgringo

    9 bucks an hour? That’s “I still live with my parents” wages. You can’t even get an f’n apartment with that money. That is, unless you’re a vato who splits the tab with 27 other vatos.

    You know, you figure that by raising property taxes we’d price out these bozos, but since they don’t follow our rules (ie. one family to a house) they still manage to get in with the bank’s approval.

  13. 13 illinoisgringo

    Sorry, I meant property values.

  14. 14 the marlboro man

    Where is this banker ,man isure could have use this DUMASS back in the 80s back then you needed 20,25% down just to look at a $150.000????????

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