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http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2006/06/15/MNGRMJEGM81.DTL&type=politics
Selling illegal immigrants the American dream
Their immigration status did not prevent them from buying a home. It is legal for undocumented people to purchase property in the United States.
The problem has been borrowing the money to pay for it. Ramiro and Marisol have stable jobs, but many undocumented people have spotty or nonexistent credit histories. Often, they've worked off the books. That's two big strikes against getting a mortgage.
Another issue used to be an absolute deal breaker when undocumented people applied for home loans: Until recently, people had to have a Social Security number to qualify for a mortgage.
Now, a handful of banks, including some major institutions, have begun offering home-mortgage loans to people who don't have Social Security accounts. Instead, borrowers can use individual taxpayer identification numbers, or ITINs, which are used to file income tax returns. These lending programs also allow borrowers to use unconventional ways to demonstrate their creditworthiness.
The Internal Revenue Service issues taxpayer IDs to both resident and nonresident aliens so they can pay taxes. A significant number of the 8.6 million holders of individual taxpayer IDs are illegal immigrants, according to the Government Accounting Office.
Even as a heated debate swirls around the 12 million unauthorized immigrants in the United States, they are increasingly participating in the country's financial system, from paying taxes to opening bank accounts. And, for many undocumented people, just as for many citizens, the ultimate financial goal is to be a homeowner.