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Senate Passes Bill Guaranteeing Zero Percent Mortgages for Illegal Aliens

April 1st, 2009 · No Comments · Consumer Info

by Kristy Welsh

(Last Updated On: April 1, 2009)

The Senate today passed the ZIMIA (Zero Interest Mortgage Illegal Alien) Act, which guarantees zero-percent mortgage loans for any illegal alien who is buying their first home. Senate leaders said the bill was necessary to stimulate the housing market and prevent further foreclosures. In addition to economic stimulus benefits, the bill has the added benefit of encouraging a cheap labor force to remain in the country. The abundance of illegals ensures a steady supply of cheap labor for those businesses who had to lay off “overpriced” American workers. Hiring more affordable workers could allow American companies to get “back on their feet” more quickly, said an unnamed White House source.

The House said they would not approve the Senate bill in its current form. Both House Democrats and Republicans spoke of their disapproval of some of the Senate bill’s controversial provisions, which they termed examples of “pork spending” and “earmarks run amok”. The loudest opposition on Capital Hill was voiced against the “get a free SUV from GM” provision of the ZIMIA bill. The controversial provision would give a bonus free SUV to each illegal immigrant who qualified for a mortgage under the new program. “I know General Motors has a lot of extra cars they can’t sell, but can’t they at least charge $20 a piece for them?” said one representative who spoke only on condition of anonymity.

April Fools!

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