California Bill Allowing Illegal Aliens to Get $150,000 in Home Loans
California Governor Gavin Newsom will decide on a bill allowing illegal aliens to be eligible for $150,000 in home loans. The bill passed the State Assembly with a veto-proof majority. The loan program expands an existing one that requires no down payment or interest payments but repayment of principal and appreciation percentage of the home value.
Key Points
- Bill passed by a three-to-one veto-proof majority
- Loan program requires repayment of principal and appreciation percentage of home value
Pros
- Expands eligibility for down payment assistance program
- May help undocumented Californians become homeowners
Cons
- Controversial topic with strong opposition
- Critics argue it incentivizes illegal migration