To: cbkaty
Because Islam forbids interest payments on monetary loans, or riba, Islamic mortgages are advertised as alternatives to the borrower-lender structure of conventional mortgages. Call it a "rental fee", call it a "usage fee", hell call it a banana. Whatever you call it it's interest. The loans are not more stable because they change terms on the loan doc, they are stable because they insist on 20% down. All lenders should get back to that.
6 posted on
04/23/2009 6:44:12 AM PDT by
Poison Pill
(Help, I've voted Republican and I can't get up!)
To: Poison Pill
Call it a "rental fee", call it a "usage fee", hell call it a banana.Yeah, it's a "rose by any other name" thing. I remember reading where prostitution was forbidden under Khoumeni (still might be), but they did sanction "one hour marriages".
15 posted on
04/23/2009 7:12:49 AM PDT by
Oatka
("A society of sheep must in time beget a government of wolves." –Bertrand de Jouvenel)
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