[PoloSec]

Sounds like a money laundering scheme to me.

[TxAg1981]

I expect banks to jump on this and even use it as a selling point. Here is how it works
Since the bank cannot charge interest, the inflate the current value of the property by the prevailing interest rate. For example, my $100K property will sell for $170K (approx 3% interest for 30 years). Problem "solved".
The banks will love it because it automatically inflates the prices. Many of their underwater properties are now "solvent" again.
However, you all can imagine the false values and problems this creates long term.