Monday, March 31, 2014

Immigration reform would allow many families to purchase housing

In answering questions from the audience for a videochat dedicated to reforming the mortgage industry, Obama made ​​a mention of immigration reform as " a subject that does not seem to be related, but it is ."

"If we get immigration reform, we suddenly all kinds of families out of the shadows , paying taxes , paying fines, but also most likely buying homes and often in some of the neighborhoods that were more mortgage auction ," said the president during moderate transmission Rascoff Spencer , general manager of the website dedicated to selling real estate .

People who legalize with immigration reform " add value to the community , increase the value of the property and that is one reason why it is estimated that immigration reform would bring 3,000 million to the economy, mainly because they would buying houses , "he added .

During his speech yesterday in Phoenix on mortgage industry reform , Obama urged the audience to " encourage Republicans in the House of Representatives to stop dragging its feet ," referring to the reluctance of the Republican majority to debate the bill passed by the Senate in June.

Many Republicans not only disagree with the idea of ​​legalizing people who remain on U.S. soil in violation of immigration laws , but expressed concern that the legalization of 11 million people is likely to accentuate the unemployment rate of 7% currently records the force U.S. labor .

Obama spoke about immigration reform hours after one of the main protagonists in the Senate expressed confidence that a deal can be agreed with the House of Representatives .

" We would much rather the larger project, but we are fine any way in which the House of Representatives passed," said Sen. Chuck Schumer in an interview with CNN. "Things are moving in the right direction."

Proponents of immigration reform plan numerous events during the current electoral districts culminating summer recess the second week of September, with intent to persuade skeptical lawmakers to vote in favor of immigration reform that includes the option of naturalization for undocumented immigrants .

The intervention of Obama followed his speech Tuesday , in which he discussed the need to simplify the current regulations to reduce the frequency with which banks reject loans to families who meet the requirements established by the federal government to obtain an obstacle that plagues especially Hispanics despite signs of recovery recently exhibited by the construction sector .

The insistence of the banks to request a down payment on average 20 % of the total cost of the property is the main obstacle facing Hispanics to take advantage of low interest rates , since it is an unattainable amount for many Hispanic families.

Just 46 % of Hispanics owned housing in 2012 compared to 73 % of Caucasians , according to a recent study by the National Council of La Raza and the Center for American Progress .

The central message of Obama's speech was to bring reform to close the state mortgage banks Fannie Mae and Freddie Mac , which the federal government rescued in 2008 by 187,000 million , with the goal of preserving the supply of mortgages to 30 year fixed and avoid creating another housing bubble like the one that sparked the global recession in 2006 interest.

Speaking at Phoenix was part of a series of talks planned for August on economic policy, whose goal is to prepare the ground for negotiations to increase the debt ceiling and the federal funding that will consume Congress when restart its activities in September after a five-week summer recess . Republicans in Congress have publicly disagreed with the plans of the White House in the two cases .

Obama has pronounced economic speeches to air campaign in Tennessee , Florida and Missouri , in which he advocated funding sources for infrastructure, a reduction in the cost of loans for higher education and reform the tax system . The Democratic president has also accused Republicans of not doing enough to support the American middle class.

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