The complete ridiculousness of Assembly Bill 1840 – Daily News

The California state legislature has been criticized for passing Assembly Bill 1840, which allows undocumented immigrants to qualify for a program that provides up to $150,000 in down payment assistance to first-time homebuyers. The program, called the California Dream for All Shared Appreciation program, ran out of funding in just 11 days and switched to a lottery system. However, applicants must meet specific income limits to qualify for the program. Despite claims that individuals with ITINs, typically associated with DACA status, can qualify, the requirements for the program actually include having a valid Social Security number or ITIN. It was also revealed that the program is currently closed to new applicants due to a lack of funding. The bill has been criticized for potentially putting lucky voucher winners at risk of foreclosure and financial instability if they are unable to make the required monthly payments. Critics argue that the program’s requirements and lack of funding make it unlikely that undocumented immigrants will actually benefit from the legislation. The bill’s author, Assemblyman Joaquin Arambula, defended the bill by stating that homeownership is essential for building wealth. However, many are skeptical of the program’s ability to truly help undocumented immigrants achieve homeownership.

Source
Photo credit www.dailynews.com