California's Controversial Mortgage Aid Bill for Illegal Immigrants!
California is on the verge of enacting a bill offering state-financed mortgage assistance to illegal immigrants.
Proposed legislation AB 1840 aims to modify the California Dream for All Shared Appreciation Loans program to overlook immigration status for applicants. This program offers loans up to 20% of a home's purchase price, with assistance capped at $150,000 per person. Instead of traditional interest, borrowers would pay back 15% or 20% of the home's appreciation value upon selling, depending on their income level.