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1 posted on 10/20/2009 3:36:20 AM PDT by markomalley
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To: markomalley

You can get sharia home loans in the US.


2 posted on 10/20/2009 3:38:07 AM PDT by fso301
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To: markomalley
The joke is on the borrower. They just roll all the interest into the principal up front.

I would imagine that if this is being done in the USA, it would not be possible for a borrower to deduct home mortgage interest from their taxes because there is no interest to deduct.

3 posted on 10/20/2009 4:10:19 AM PDT by pnh102 (Regarding liberalism, always attribute to malice what you think can be explained by stupidity. - Me)
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To: markomalley

What a farce! They don’t call it interest, but they make the buyer pay it.
It won’t be long before the whining death cultists demand that the IRS treat their non-interest payments as deductible interest.


4 posted on 10/20/2009 4:29:02 AM PDT by Leftism is Mentally Deranged
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To: markomalley

“Islamic law prohibits its followers from charging or collecting interest fees when money is lent or accepted”

...this is complete BS! The borrower pays everything up front. When I 1st got into real estate in 2002, I had a muslim homebuyer who insisted on using his own muslim lender because of this interest bologna. His closing costs were astronomical! It was funny to see his face when he saw his GFE. Also, a fellow Realtors dog was in the office and licked this ying yangs hand!! He flipped and ran to the bathroom for a scrubbing!! Came out with his hands looking like bloody stumps from washing so hard!! “Awwww! Filthy animal licked me!! Awwwwww!”


5 posted on 10/20/2009 5:02:58 AM PDT by albie
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To: markomalley

“Mercedes-Benz Offering Sharia Loans in Middle East”

Europeans are very adaptable.


6 posted on 10/20/2009 5:42:13 AM PDT by RoadTest ( But when ye pray, use not vain repetitions, as the heathen do)
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