HUD gives loans to 5 million illegals

[tammy1999]

HUD announced that 5 million illegals were given sub-prime rate loans. WHAT????????

Here is a very interesting youtube (http://www.youtube.com/watch?v=FewmvkaTXHU) video that shows how Accorn was used to sue Citibank.

Here is the article (http://iusbvision.wordpress.com/2008/09/30/obama-sued-citibank-under-cra-to-force-it-to-make-bad-loans/) that shows the lawsuit and the video. I know its from a conservative article, but you can't dispute the lawsuit or the audio clips.

I think what bothers me the most about alot of these lawsuits, claiming that large banks discriminate some minorities. Minorities or not. If you can't afford a loan, you can't afford a loan. The other sad thing is that the banks didn't have big enough gonads to stand up to these people and just say, well, no.

Maybe this whole bail out is a wake up call for America and how alot of us are living our lives. Living beyond our needs, using credit that we can't pay back, etc. Maybe we are looking at a more cash America?

[txmusicmom]

Maybe this whole bail out is a wake up call for America and how alot of us are living our lives. Living beyond our needs, using credit that we can't pay back, etc. Maybe we are looking at a more cash America?

Oh Dave Ramsey would be proud. :lol :lol

Exactly- very little saving -- but lots of spending on frivolous stuff we all seem to think is totally necessary. :blush

Why do those loans NOT surprise me? Whoever did this should be put in jail for fraud........

UGH

[tsaria]

Maybe this whole bail out is a wake up call for America and how alot of us are living our lives. Living beyond our needs, using credit that we can't pay back, etc. Maybe we are looking at a more cash America?

Yes, please! I've always lived within my means, and it's gotten really tiresome seeing people who make less than me with all these new things, sports cars, nice houses, etc. that I can't afford. And I make more than them! For a long time I felt like a sucker for not 'keeping up with the Jones' but now I see that the Jones were just on the brink of financial ruin & I feel better =)

[dgreenshield]

Ugh! I am so disgusted with this whole mess, and then to see that there have been loans to illegal immigrants really makes me mad. (I looked online for exact numbers and only found the indictments in CO regarding a real estate company helping illegals get loans, if anyone has another link, I would like to find some exact figures)

I heard on one of the finance shows some talk about this forcing us to go back to the way homeloans used to be...20% down, lots of proof of income, job ect. Personally, I am upset that I am paying for the mistakes of many different people when I save each month and live on what we earned 15 years ago. I can say that we live well below our means and still have the things that we want without using credit cards or taking out loans, it can be done!

I am now worried, although it is not my business anymore about the house we just sold. The buyers didn't have enough to put down for the loan so we helped with closing costs and asked the lender if they would be able to pay the loan once they owned the house. We were assured over and over that they could pay the loan but just didn't have any savings to put down on the loan. Hmmm...he works for a car dealership and she is in healthcare. I think they are going to be one of those families that are on the edge after being in a house for just a few months...I hope for their sake that I am wrong.

[NellieRose]

I think what bothers me the most about alot of these lawsuits, claiming that large banks discriminate some minorities. Minorities or not. If you can't afford a loan, you can't afford a loan. The other sad thing is that the banks didn't have big enough gonads to stand up to these people and just say, well, no.

It's a little more complicated than just what you see here.

There was a lot of "predatory lending" aimed at minorities and those who were not educated enough to know THEY were being swindled.

In addition, many foreclosures in this crisis are because people chose to take ARM loans and when the time come for the rates to adjust they couldn't get into a Fixed Rate b/c the value of the property depreciated so much....as the interest rates climbed they could no longer afford to pay...job losses have also helped the housing problem along, as well as people literally putting the keys in the mailbox and just walking out of the house and leaving it b/c what they paid $400,000 (as an example) for is now worth $200,000 and they just don't feel like paying $200,000 in principle more than the property is worth, never mind the interest on top. Yes, people that can afford to pay the mortgages have walked out b/c they owe more than the property is worth.....

Not every problem facing America is due to a minority and/or illegal population or people just getting over on the system.

[opeysmama]

Sad sad...this stuff happens right under the American people's noses...we just don't listen and pay close enough attention to what our Congress is allowing/pushing/ignoring and how that relates to our business...

If anything good comes of this mess, it will be I pray that American's start watching the government much much MUCH closer. I know I will be.

Of course we need to be aware of big business too...but on an individual basis, something as serious as a mortgage should be carefully weighed and people should be held accountable for the contracts they enter in to. Not only mortgages, but I mean a mortgage is no small thing. And criminal activity by CEOs etc should be prosecuted to the fullest.

The ramifications of this whole disaster will be felt by not only us, but our children, and that angers me.

[snaggletooth75]

WHAT???????????????????????????????? MY husband and i cant even get a loan for a house cause we dont EARN enough and I was born here. Yet they are giving away loans to people that dont have permission to be here???????????????????????? I dont have a problem with people being here legally getting loans BUT to give loans to illegals than to give the people who are here LEGALLY it makes me really sad and angry. Not that my hubby and I can afford a loan right now LOL but it would be nice to have that offer

[NellieRose]

WHAT???????????????????????????????? MY husband and i cant even get a loan for a house cause we dont EARN enough and I was born here. Yet they are giving away loans to people that dont have permission to be here???????????????????????? I dont have a problem with people being here legally getting loans BUT to give loans to illegals than to give the people who are here LEGALLY it makes me really sad and angry. Not that my hubby and I can afford a loan right now LOL but it would be nice to have that offer

Just playing Devil's Advocate but has it ever occured to you that maybe some of the illegal immigrants were making more money than you and therefore qualified for a loan? It's more than narrow minded to assume you are in a superior financial position than anyone else based on citizenship or lack thereof.

[HLWalter725]

We purchased a house several years ago. We secured a 30 year fixed mortgage and had 20% to put down, and we were urged by both our mortgage broker (a friend I trusted) and our realtor (a friend of a friend) to not waste the 20% putting it into the mortgage.... we were urged to take an 80/20, told that our home would need to be furnished and that every thousand we put down was only going to save us a few dollars every month on the payment. Heck they were telling us to KEEP our cash, spend it on furniture and home improvements once we moved in. Who DOESN'T want to hear that when making the most expensive purchase of their lives? It was a pretty appealing argument at the time.

So does it surprise me that illegal aliens were also encouraged to buy their mortgage products? NO. This whole state of affairs is sad and goes to show how far people will go in the hopes of making a buck or two. I'm guessing the expectation was that many of these illegals would default on the loans and then HUD could turn around and sell those homes for a big profit. It is such a corrupt system we have here.

[opeysmama]

Just playing Devil's Advocate but has it ever occured to you that maybe some of the illegal immigrants were making more money than you and therefore qualified for a loan? It's more than narrow minded to assume you are in a superior financial position than anyone else based on citizenship or lack thereof.

So you're saying its okay to be here illegally then? Because I don't condone illegal activity, and I don't think America should put up with illegal aliens of any species. ROFL...

No if they're here illegally, they need to NOT be here. And of course, we should not allow them to have loans.

[opeysmama]

Brings up the question of illegals getting driver's licenses (and thus voting). Obama is for that, McCain I'm not sure. I'll have to check around. But how do we all feel about illegals getting driver's licenses?

[HLWalter725]

Brings up the question of illegals getting driver's licenses (and thus voting). Obama is for that, McCain I'm not sure. I'll have to check around. But how do we all feel about illegals getting driver's licenses?

I think that if it is a way of keeping track of and legalizing illegals, it is astep in the right direction.

[tammy1999]

Yes, please! I've always lived within my means, and it's gotten really tiresome seeing people who make less than me with all these new things, sports cars, nice houses, etc. that I can't afford. And I make more than them! For a long time I felt like a sucker for not 'keeping up with the Jones' but now I see that the Jones were just on the brink of financial ruin & I feel better =)

Oh you are so right!! I never thought of it that way. So now, I guess we are better than the Jones' and will live a much happier life.

[Tiffikat]

I think that if it is a way of keeping track of and legalizing illegals, it is astep in the right direction.

Especially if it means that they will be required to also obtain auto insurance and be held accountable for having it.

[tammy1999]

It's a little more complicated than just what you see here.

There was a lot of "predatory lending" aimed at minorities and those who were not educated enough to know THEY were being swindled.

In addition, many foreclosures in this crisis are because people chose to take ARM loans and when the time come for the rates to adjust they couldn't get into a Fixed Rate b/c the value of the property depreciated so much....as the interest rates climbed they could no longer afford to pay...job losses have also helped the housing problem along, as well as people literally putting the keys in the mailbox and just walking out of the house and leaving it b/c what they paid $400,000 (as an example) for is now worth $200,000 and they just don't feel like paying $200,000 in principle more than the property is worth, never mind the interest on top. Yes, people that can afford to pay the mortgages have walked out b/c they owe more than the property is worth.....

Not every problem facing America is due to a minority and/or illegal population or people just getting over on the system.

Nellie, CRAP!!!!!!!!!!! You mean to tell me that someone that goes to get a loan that has no job, no source of income and is given a loan for a home doesn't know that he can't pay the loan back??? Come on!!!!!! And as long as I have been on this earth and the loans that I had, I had enough sense to make sure what I was getting myself into. If you aren't smart enough to ask questions at the time of closing, I'm sorry you aren't smart enough to manage a mortgage. The majority of those people saw they could have a very low mortgage payment, no down payment and a very nice home without asking questions. Those people need to rent, period! There are tons of section 8 housing and other opportunities out there for people with low income and need housing.

I'm sorry folks, but I'm just tired of bailing out stupid people. Forrest had it right........stupid is, as stupid does.

[tammy1999]

Brings up the question of illegals getting driver's licenses (and thus voting). Obama is for that, McCain I'm not sure. I'll have to check around. But how do we all feel about illegals getting driver's licenses?

Oh heck girl, Pelosi proposed that back a few years ago.

[snaggletooth75]

Excuse me but if your an ILLEGAL you obviously dont have a right to be here HENCE the word ILLEGAL. I was born here raised here and am legally allowed to be here. this is what America does helps people that are here illegally before they offer the same to the people that are american citizens.
This has nothing to do with if your from another country and are here legally. ALso ha snothing to do with if your here on a work visa. People that cross the border and work here illegally HAVE NO right to our medical or our loans pERIOD!!! If you want what we have do the right thing and make yourself a LEGAL american citizen.
I dont care what an illegal makes cause they shouldnt be making anything here unless they are a citizen.

Just playing Devil's Advocate but has it ever occured to you that maybe some of the illegal immigrants were making more money than you and therefore qualified for a loan? It's more than narrow minded to assume you are in a superior financial position than anyone else based on citizenship or lack thereof.

[Miss Chris]

Nellie, CRAP!!!!!!!!!!! You mean to tell me that someone that goes to get a loan that has no job, no source of income and is given a loan for a home doesn't know that he can't pay the loan back??? Come on!!!!!! And as long as I have been on this earth and the loans that I had, I had enough sense to make sure what I was getting myself into. If you aren't smart enough to ask questions at the time of closing, I'm sorry you aren't smart enough to manage a mortgage. The majority of those people saw they could have a very low mortgage payment, no down payment and a very nice home without asking questions. Those people need to rent, period! There are tons of section 8 housing and other opportunities out there for people with low income and need housing.

I'm sorry folks, but I'm just tired of bailing out stupid people. Forrest had it right........stupid is, as stupid does.
I agree with you to a point. I have several well-educated friends that have been put into a bad position because they were lied to about their loans. One was told that there was no penalty to refinance at any time There was a steep penalty and when they went to refinance they could not and lost the home) and the others were given bad info about the terms of their ARM. We moved last July and let me tell you when we got to closing we were so dog tired from packing and getting the details for the move squared away. I would have signed anything to finish up the paperwork and get the stupid move over and done with. Other s are misled before they get to the table and then it is too late. YOu jsut watched the people who bought your former home walk out after closing, all oyur stuff is about to be loaded into a van and there is no going back even if you find the terms to not be as expected. It would be very difficult to read every document that needed to be signed, and even if I did there is much of it that is written in legalese a language in which I am not fluent. The amount of money we qualifed for was obscene and completely out of line. NO way could we afford those types of payments if we financed what they offered. And in our case we were responsible and said we wanted less, yes. But, they make it seem so easy. I agree that people should do a thorough job and undertsand what they are getting into, but it is not always that simple.

[txmusicmom]

I do believe some predatory lending was going on, some folks misled, and others in over their head.

I think after they were told to start offering easy loans, it just got easier and easier to be deceptive. Plus they were told to do this or be subject to penalties--

Thus the slippery slope began.

I know at closing I have asked several questions and/or found errors. You really can be at their mercy. And I so agree, at that time, you are so tired- it is a disaster waiting to happen.

[tsaria]

I think that everyone should be allowed & encouraged to get a drivers license. They *will* drive anyway if they have to, and having a license (*and* registering their cars) will make it tons more likely that they will have insurance.

RE: loans: I think that people who have been lied to or their mortgage contained incorrect information are in a different category altogether. I think that is entirely separate from the 'mortgage crisis'. If all the terms were laid out in the paperwork a homebuyer signed, then it's their responsibility what happens after that. If the mortgage was drawn up incorrectly by the broker, contains incorrect information, or things to that effect, then that is fraud & an issue for the courts. I don't think anyone is saying that fraud victims are the ones at fault at all.

[Miss Chris]

I think that everyone should be allowed & encouraged to get a drivers license. They *will* drive anyway if they have to, and having a license (*and* registering their cars) will make it tons more likely that they will have insurance.

RE: loans: I think that people who have been lied to or their mortgage contained incorrect information are in a different category altogether. I think that is entirely separate from the 'mortgage crisis'. If all the terms were laid out in the paperwork a homebuyer signed, then it's their responsibility what happens after that. If the mortgage was drawn up incorrectly by the broker, contains incorrect information, or things to that effect, then that is fraud & an issue for the courts. I don't think anyone is saying that fraud victims are the ones at fault at all.

But I think that there are many more fraud victims that any of us realize. If they can fool people like my friends who are all well-educated and smart people, then how about someone who does not have English as their first language. It is not so easy to go to court when they have your signature and all you have is the knowledge in your heart that they lied to you. I really think the fraud is pervasive.

[~ashleigh]

HUD announced that 5 million illegals were given sub-prime rate loans. WHAT????????


Do you have link for HUD's announcement? All I have been able to find is that HUD insures 7 million loans nationwide, and this announcement is no where to be found on HUDs site.

Don't get me wrong, I don't think HUD should be giving government insured home loans to illegals.

[tammy1999]

Do you have link for HUD's announcement? All I have been able to find is that HUD insures 7 million loans nationwide, and this announcement is no where to be found on HUDs site.

Don't get me wrong, I don't think HUD should be giving government insured home loans to illegals.

I just did a google search on HUD illegal loans and tons of stuff came up. Too much to post.

[~ashleigh]

Yes, Tammy, I googled it, too. I just can't find any statement by HUD, any resources backing up the claim, or a news outlet explaining it. Also, I looked through original HUD reports, news reports, etc. I thought maybe you had some proof that I was not able to find.

From my research, it appears that the initial claim was started by a talk radio station, KFYI, then repeated on Lou Dobbs, and later by Rush Limbaugh (http://mediamatters.org/items/200810100022?f=h_latest). Furthermore, it appears that Drudge Report has dropped their link to KFYI on the story.

Like I said, I don't think illegals should get federally insured loans from HUD, however I also don't think posting inaccurate facts to incite anger and place blame has a place in any debate. (Sorry - the former teacher in me is coming out - I just like to know I am basing my opinions on facts :) ) So if you have something to point me to, I would like to see it.

[tammy1999]

Yes, Tammy, I googled it, too. I just can't find any statement by HUD, any resources backing up the claim, or a news outlet explaining it. Also, I looked through original HUD reports, news reports, etc. I thought maybe you had some proof that I was not able to find.

From my research, it appears that the initial claim was started by a talk radio station, KFYI, then repeated on Lou Dobbs, and later by Rush Limbaugh (http://mediamatters.org/items/200810100022?f=h_latest). Furthermore, it appears that Drudge Report has dropped their link to KFYI on the story.

Like I said, I don't think illegals should get federally insured loans from HUD, however I also don't think posting inaccurate facts to incite anger and place blame has a place in any debate. (Sorry - the former teacher in me is coming out - I just like to know I am basing my opinions on facts :) ) So if you have something to point me to, I would like to see it.

Read this article. It seems this problem has been investigated for quite some years now and HUD would never say they did this. I am finding many articles that they are being investigated for this, but none to say the findings are wrong. If you do, let me know.

http://www.vdare.com/malkin/loans.htm

[~ashleigh]

I read the article, and I don't doubt that there are illegals (and citizens) who took advantage of our loaning system. I do think Illegal immigration is a problem that needs to be addressed (both candidates have held similar positions on reforming our immigration policy and securing our borders).

My issue is with your original claim. If you are saying that HUD insured 5 million loans to illegals (or even 5 million illegals got loans), I would like to see where you (or KFYI) got those numbers. They claim the data came from HUD, but I can not find any HUD report or press release saying that. In fact, HUD disputes the rumor. HUD is a federal department, and their data is public information, so I would assume that such information would be available

I read the anger and disgust in this thread (and I felt it too). However, if those emotions are based on grossly inaccurate information, I think we all have the right to know that.

[DirtyFeetDesigns (heb1976)]

Just playing Devil's Advocate but has it ever occured to you that maybe some of the illegal immigrants were making more money than you and therefore qualified for a loan? It's more than narrow minded to assume you are in a superior financial position than anyone else based on citizenship or lack thereof.

Whether an illegal immigrant made more money then a American citizen does not make a bit of difference. They are illegal ... meaning not a citizen ... no social security number. They should not be allowed to even be considered to get a loan.

[JCSimon]

Whether an illegal immigrant made more money then a American citizen does not make a bit of difference. They are illegal ... meaning not a citizen ... no social security number. They should not be allowed to even be considered to get a loan.

So, how *could* they get a loan w/o a SS number? I've had lots of loans in my life and have had to provide my actual SS card for every single one of them.

[tammy1999]

So, how *could* they get a loan w/o a SS number? I've had lots of loans in my life and have had to provide my actual SS card for every single one of them.

Forged/fake SSN and cards. But alot of those loans were given to people that could breath. My husband use to flip homes and we would listen to the real estate agents laugh about that. No documentation was required in some certain types of loans.

Some people who want to buy homes can't provide information, so they try to get a no-doc or low-doc mortgage. The "no asset verification" mortgage you mention is usually packaged as a "no income/no assets" mortgage in which the lender verifies employment, but does not verify income or assets. Just an example

[JCSimon]

Forged/fake SSN and cards. But alot of those loans were given to people that could breath. My husband use to flip homes and we would listen to the real estate agents laugh about that. No documentation was required in some certain types of loans.

Some people who want to buy homes can't provide information, so they try to get a no-doc or low-doc mortgage. The "no asset verification" mortgage you mention is usually packaged as a "no income/no assets" mortgage in which the lender verifies employment, but does not verify income or assets. Just an example

Yuck! It's insane that the lenders could get away with doing that.

[Heather Manning]

Forged/fake SSN and cards.

They also use employee identification numbers that they get from the government. Many illegals don't know they can get one even if they are illegal to pay their taxes on. But some do know and pay their taxes under their own name. They use this number to get loans, cards, etc. Whether they are illegal or not, the government wants them to pay taxes and they want to keep track of them, one reason they give them an EIN.

[Haley64]

Well now we can all hope that it won't matter who you are and by asking for a loan for a bag of chips, had better make the lenders look at your financial affairs with a magnifying glass inside and out! It's not my American dream to bail out those that are in trouble and borrowed beyond their means.

IMHO a person should have known just by basic adult financial mental ability, if they could have honestly afforded to pay back the loans they were given.
I think of it like this, years ago my son and I were out shopping when he wanted a toy. I told him that mommy didn't have the money for it. His child like response was to grab my checkbook, show me the rest of my blank checks and say "Yes you do mommy see here they are!"

I don't think we will ever again see "excess" money (false hope) be given to those that can't or couldn't afford to pay it back like it has been for so many years!

[NellieRose]

WHAT???????????????????????????????? MY husband and i cant even get a loan for a house cause we dont EARN enough and I was born here. Yet they are giving away loans to people that dont have permission to be here???????????????????????? I dont have a problem with people being here legally getting loans BUT to give loans to illegals than to give the people who are here LEGALLY it makes me really sad and angry. Not that my hubby and I can afford a loan right now LOL but it would be nice to have that offer

If someone were to provide a Social Security number, most likely obtained fraudulently, they could easily obtain loans.

So you're saying its okay to be here illegally then? Because I don't condone illegal activity, and I don't think America should put up with illegal aliens of any species. ROFL...

No if they're here illegally, they need to NOT be here. And of course, we should not allow them to have loans.

Ummm, no, said nothing even close to "it's OK to be here illegally....this is exactly what you quoted me saying....

Just playing Devil's Advocate but has it ever occured to you that maybe some of the illegal immigrants were making more money than you and therefore qualified for a loan? It's more than narrow minded to assume you are in a superior financial position than anyone else based on citizenship or lack thereof.

Are you seeing any words here that even remotely hint to such a thought????? :shrug

Nellie, CRAP!!!!!!!!!!! You mean to tell me that someone that goes to get a loan that has no job, no source of income and is given a loan for a home doesn't know that he can't pay the loan back??? Come on!!!!!! And as long as I have been on this earth and the loans that I had, I had enough sense to make sure what I was getting myself into. If you aren't smart enough to ask questions at the time of closing, I'm sorry you aren't smart enough to manage a mortgage. The majority of those people saw they could have a very low mortgage payment, no down payment and a very nice home without asking questions. Those people need to rent, period! There are tons of section 8 housing and other opportunities out there for people with low income and need housing.

I'm sorry folks, but I'm just tired of bailing out stupid people. Forrest had it right........stupid is, as stupid does.

I get that you are tired of bailing people out...it's probably safe to assume most people agree & can identify with that feeling but it's not an excuse to lack compassion for people who were taken advantage of. Not everyone can be as intelligent and make all the correct decisions you have.

The state I live in requires an attorney for Buyers & Sellers when conducting real property transaction to try to ensure everything is done on the up and up, apparently that's not the law everywhere and with these mortgage documents being about 30 pages long and written by bankers and underwriters you would need a degree to understand all of it.

Excuse me but if your an ILLEGAL you obviously dont have a right to be here HENCE the word ILLEGAL. I was born here raised here and am legally allowed to be here. this is what America does helps people that are here illegally before they offer the same to the people that are american citizens.
This has nothing to do with if your from another country and are here legally. ALso ha snothing to do with if your here on a work visa. People that cross the border and work here illegally HAVE NO right to our medical or our loans pERIOD!!! If you want what we have do the right thing and make yourself a LEGAL american citizen.
I dont care what an illegal makes cause they shouldnt be making anything here unless they are a citizen.

Illegal immigrants are here, working and even paying taxes to the federal and state entities while they are ILLEGAL and legally at risk for deportation! The US States Treasury and the state treasuries are more than happy to continue to accept tax withholdings from those who shouldn't be here let alone paying taxes.

Many people come in on work visas and overstay the visa...they have all the required papers necessary and tax id#'s to obtain loans and buy homes, property, etc.

Nobody has to like it but it is reality.

About 2 years ago 60 Minutes did a piece on illegal immigrants working in this country and profiled an Irish immigrant and his wife in NY...they own a home just outside NYC, she is a secretary and he owns a plumbing company, they own vehicles, have employees and they (the business owners) are illegal.

Do you have link for HUD's announcement? All I have been able to find is that HUD insures 7 million loans nationwide, and this announcement is no where to be found on HUDs site.

Don't get me wrong, I don't think HUD should be giving government insured home loans to illegals.

Yes, I would like to see the statement issued by HUD regarding this number. I do recall an illegal immigrant being arrested for stealing 2 Social Security numbers and obtaining a couple loans through HUD but that is an entirely different story from what this thread is indicating.

Whether an illegal immigrant made more money then a American citizen does not make a bit of difference. They are illegal ... meaning not a citizen ... no social security number. They should not be allowed to even be considered to get a loan.

If these people are entering the country legally and on work visa they are given tax id numbers and therefore are able to legally earn money and they can obtain loans...it's when they overstay the visa they become "illegal".

Undocumented workers could be issued tax id numbers, steal them or buy fraudulent ids and therefore obtain credit.

They also use employee identification numbers that they get from the government. Many illegals don't know they can get one even if they are illegal to pay their taxes on. But some do know and pay their taxes under their own name. They use this number to get loans, cards, etc. Whether they are illegal or not, the government wants them to pay taxes and they want to keep track of them, one reason they give them an EIN.

Thank you Heather....we had quite a bit of a problem at my work a few years ago with this...the employees met every standard of eligibilitya s measured by the Federal Government yet, as it turned out they were in fact "illegal". They also had valid driver's licenses by a state that was known for a loophole in obtaining licenses so even our auto insurance company did not pick up on any irregularities while running abstracts.

I would also like to say that non-residents can and do own property in the USA as residents of the USA own property in other countries....you don't have to be a citizen to own property.