I guess that they forgot to tell the National Association of Hispanic Real Estate Professionals but someone did predict that the illegal alien home loans would turn out badly:
Of the loans made to Latinos in 2005 and 2006, 1 in 12 will end in foreclosure.
In 2008 we expect to see approximately 20,000 foreclosures a week.
Foreclosure rates have not yet peaked in Hispanic communities.
So who made these statements? It was La Raza at their A Stronger America Together: Advocating for Latino Families event. But with all the business sense of the average socialist this same group insists on pushing these mortgages anyways and strives for a "Fair Housing System that Works for Latinos."
The whole "borrow money and then pay it back" system seemed to be working just fine to me.