{"id":2332419,"date":"2024-08-28T09:58:58","date_gmt":"2024-08-28T13:58:58","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/california-senate-passes-0-down-0-payment-home-loans-for-illegal-immigrants-washington-examiner\/"},"modified":"2024-08-28T10:06:32","modified_gmt":"2024-08-28T14:06:32","slug":"california-senate-passes-0-down-0-payment-home-loans-for-illegal-immigrants-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/california-senate-passes-0-down-0-payment-home-loans-for-illegal-immigrants-washington-examiner\/","title":{"rendered":"California Senate passes 0 down, 0 payment home \u2018loans\u2019 for illegal immigrants &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcalifornia-senate-passes-0-down-0-payment-home-loans-for-illegal-immigrants-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2332419&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The California Senate has approved a controversial bill \u2063that allows undocumented immigrants to access \u200cthe \u200bstate&#8217;s zero-down,\u2063 zero-interest home loan program despite significant national criticism. The bill passed with a narrow margin of 23 votes in favor and 11 against, including opposition from all nine Republican senators and two Democratic members. <\/p>\n<p>Under the &#8220;Dream for All \u200cShared Appreciation Loans&#8221; program, eligible\u2062 applicants \u2064can receive loans \u2062up to $150,000, or 20% of a home&#8217;s purchase price, with no required down payment or payments during the loan period. Instead, the\u2063 state takes back the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/education-department-accelerates-student-loan-debt-cancellation-plan\/\" title=\"Education Dept. speeds up student loan debt cancellation plan\">original loan amount<\/a> plus 20% of any gain in value when the property \u200cis sold or refinanced.<\/p>\n<p>Despite the bill&#8217;s passage,\u2062 California faced a $47 billion deficit and \u2062had not\u200b allocated any budget for the program \u2064this year, which means that the\u200c new eligibility for undocumented immigrants will only come into effect once future funds are appropriated. The program had set aside $255 million in the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/5-disturbing-findings-from-planned-parenthoods-annual-report\/\" title=\"5 Disturbing Findings from Planned Parenthood\u2019s Annual Report\">previous fiscal year<\/a>, benefiting approximately 1,700 applicants through a lottery system. The implications of the bill&#8217;s approval and potential funding \u2063challenges remain uncertain.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">California Senate passes 0 down, 0 payment home &lsquo;loans&rsquo; for illegal immigrants<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1739147\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>(The Center Square) &ndash; The California Senate passed a contentious bill to allow for undocumented immigrants to use the state&rsquo;s zero-down, zero-interest home &ldquo;loans&rdquo; program despite national backlash following coverage of the bill&rsquo;s looming passage.<\/p>\n<div class=\"article-paywall\">\n<p>With 23 votes for and 11 votes against &mdash; including all nine Republicans and Democratic State Sens. Catherine Blakespear, D-Encinitas, and Dave Min, D-Irvine &mdash; the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/indiana-state-senate-passes-abortion-ban-first-since-dobbs-decision\/\" title=\"Indiana State Senate Passes Abortion Ban, First Since \u2018Dobbs\u2019 Decision\">bill narrowly passed<\/a> the 21 vote majority threshold in the Senate.<\/p>\n<p>California&rsquo;s Dream for All Shared Appreciation Loans program allows applicants to secure &ldquo;loans&rdquo; of up to $150,000 or 20% of the home&rsquo;s purchase price &mdash; or, about what a typical down payment is &mdash; with zero down payment on this state &ldquo;loan,&rdquo; and no payments. In exchange, the state receives the original loan amount plus 20% of the appreciated gain when the home is refinanced, sold, or transferred.<\/p>\n<p>In the last fiscal year, the state allocated $255 million for the program for 1,700 lucky &ldquo;winners&rdquo; of an application lottery. KCRA reports that the California Department of Finance confirmed this year, legislators did not appropriate any money for the program, meaning this <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/illinois-gov-signs-bill-allowing-illegal-immigrants-to-obtain-drivers-licenses\/\" title=\"Illinois Governor approves bill granting driver&#039;s licenses to undocumented immigrants.\">bill allowing undocumented immigrants<\/a> to apply would only apply in future years when additional funds are provided. With the state narrowly balancing a $47 billion deficit this year, the state may not be able to allocate funding to this program for some time.<\/p>\n<p>It&rsquo;s not clear what happens if a family decides to hold on to a home as there are no provisions on how long a property can be held for, which means certain kinds of trusts could potentially allow the loan to not be paid back. Democrats argued those applying for the funds have to work to qualify for mortgages and are thus paying taxes, while Republicans argued the program, which ran out of funds in 11 days, is already overcrowded.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><\/strong><\/p>\n<p>&ldquo;With many <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ny-to-give-illegal-immigrants-covid-checks-of-up-to-15600-republicans-hit-back-in-new-york-it-pays-to-break-the-law\/\" title=\"NY To Give Illegal Immigrants COVID Checks Of Up To ,600, Republicans Hit Back: \u2018In New York, It Pays To Break The Law\u2019\">legal residents<\/a> not able to afford a home, should we really be giving free cash to illegal immigrants? Every dollar that goes to an illegal immigrant is one less dollar available to legal residents including veterans, teachers, and families,&rdquo; said California Senate Minority Leader Brian Jones, R-San Diego, in a statement. &ldquo;California already spends $5 billion per year on free healthcare for illegal immigrants&mdash;will it ever be enough for Democrats&rsquo; political agendas?&rdquo;<\/p>\n<p>AB 1840, which has now passed both the California Senate and Assembly, must now pass back again in the Assembly with the Senate&rsquo;s amendments before the end of the legislative session on Aug. 31 before going to California Gov. Gavin Newsom&rsquo;s desk for approval.<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1739147\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1739147\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The California Senate has approved a controversial bill that permits undocumented immigrants to access the state&#8217;s zero-down, zero-interest home loan program, despite facing significant national criticism. The bill passed with a vote of 23 in favor and 11 against, which included opposition from all nine Republican senators as well as Democratic Senators Catherine Blakespear and Dave Min. This legislation narrowly met the required majority in the Senate.<\/p>\n<p>California&#8217;s Dream for All Shared Appreciation Loans program allows applicants to obtain loans of up to $150,000 or 20% of a home&#8217;s purchase price without any down payment or monthly payments. In return, the state receives back the original loan amount plus 20% of any increase in value when the property is sold, refinanced, or transferred. Last fiscal year, $255 million was allocated for this program benefiting 1,700 selected applicants through a lottery system.<\/p>\n<p>However, KCRA reports that this year no funds were appropriated for the program by legislators; thus, if undocumented immigrants are allowed to apply under this new bill, it would only take effect when additional funding becomes available in future years. Given California&#8217;s current budget deficit of $47 billion, it may be some time before funding can be allocated again.<\/p>\n<p>There are also concerns about what happens if families choose not to sell their homes since there are no guidelines on how long they can retain ownership without repaying the loan\u2014potentially allowing certain trusts to avoid repayment altogether. Democrats argue that those seeking these funds must qualify for mortgages and pay taxes while Republicans contend that since previous funding ran out quickly\u2014within just 11 days\u2014the program is already overwhelmed.<\/p>\n<p>California Senate Minority Leader Brian Jones criticized the initiative by stating that providing financial assistance to undocumented immigrants detracts from resources available for legal residents such as veterans and teachers. He highlighted existing expenditures on healthcare for illegal immigrants and questioned whether such spending would ever satisfy Democratic objectives.<\/p>\n<p>The bill (AB 1840) has now passed both legislative chambers but must return to the Assembly with amendments made by the Senate before being sent to Governor Gavin Newsom for final approval before August 31st<\/p>\n","protected":false},"author":1,"featured_media":2332420,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/07\/Border-Fact-Check-scaled-1024x683.webp","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[4045,39513,32165,3740],"class_list":["post-2332419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-california","tag-home-loans","tag-illegal-immigrants","tag-senate"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/07\/Border-Fact-Check-scaled-1024x683.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2332419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2332419"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2332419\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2332420"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2332419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2332419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2332419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}