This is just an excerpt. They have no details on how Islamic "no interest" mortgages work.
1 posted on
08/01/2002 1:34:00 PM PDT by
palmer
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To: palmer
How can these new (or illegal!) immigrants afford a mortgage? I'd like to see a mortgage specially designed for me based on our income-ha!
2 posted on
08/01/2002 1:37:35 PM PDT by
hsmomx3
To: palmer
Just more subsidies for the real estate industry.
3 posted on
08/01/2002 1:39:04 PM PDT by
Shermy
To: palmer
I read about it a few years ago- it goes through lots of legal hoops to disguise the interest as other items, but in the end it's the same thing.
To: palmer
meet the religious dictates of Islam for Muslim borrowers who are prohibited from paying interest What investors do they think are going to purchase these mortgages?
6 posted on
08/01/2002 1:41:47 PM PDT by
steveo
To: palmer
Just great. More multicultural BS. Guess who'll pay for this wonderful idea?
Fist through monitor in 3...2..1...
7 posted on
08/01/2002 1:49:34 PM PDT by
AngryJawa
To: palmer
This is bad news.Don't we have enough people in this country who damage property and don't pay their rent!
To: palmer
The divisiveness just keeps on and keeps on and keeps on. If they want to have their culture it's still in their former country. Now *I* have to pay to bring their culture *here*. What joy, What bliss. Karl Marx would be proud! Divide and then the great workers revolution can happen on its own!
To: palmer
Freddie Mac offers a special two-part home loan tailored to meet the religious dictates of Islam for Muslim borrowers who are prohibited from paying interestHmmm. So if my religion prohibits me from paying more than $.50/gallon for gasoline, the government will devise a program for me?
;-)
Actually, I think that Muslims are forbidden from charging interest. As for killing Jews, well that's an entirely different story.
To: palmer
The program will aggressively "reach out to people who normally think they couldn't qualify" for a mortgage to buy a house, Nettles says. It will recognize nonstandard income sources -- part-time jobs, cash-payment jobs and employee assistance. So, what happens when it turns out that the people they are "reaching out" to, can't pay their mortgage?
Uncle Sugar to the rescue.
15 posted on
08/01/2002 2:04:56 PM PDT by
07055
To: palmer
What I take out of this ultimately is that real estate really *is* the last bubble and they're trying *desperately* to keep it afloat.
To: palmer
To: rohry; Dukie; arete; headsonpikes; razorback-bert; TigerLikesRooster
ping
23 posted on
08/01/2002 2:58:01 PM PDT by
Tauzero
To: Thane_Banquo; Far Right Of Left; Corin Stormhands; Alouette; LarryM; swarthyguy; germanicus; ...
"Freddie Mac offers a special two-part home loan tailored to meet the religious dictates of Islam.."
... stir, stir, stir ...
24 posted on
08/01/2002 3:07:00 PM PDT by
Tauzero
To: palmer
Here, Mortgage this!
25 posted on
08/01/2002 3:10:43 PM PDT by
arete
To: palmer
Freddie Mac offers a special two-part home loan tailored to meet the religious dictates of Islam for Muslim borrowers who are prohibited from paying interest My religion prohibits me from buying retail.
26 posted on
08/01/2002 3:22:25 PM PDT by
Alouette
Is insurance coverage against daisy cutters extra?
To: palmer
I wasn't aware of this religious interest restriction but it explains a lot to me now.
I own a small business dealing with home repairs and advertise by direct mail buying my mailing list based on home sales in our county. I'm amazed by the amount of Arab/Muslim names that apparently pay cash for their property since under the lein holder slot it says none and the amount of loan is listed as 0.
Even more disturbing are the prices of some of these homes. One last month was 2.8 million, how does someone pay cash for a house selling in that price range?
MKM
29 posted on
08/01/2002 4:19:07 PM PDT by
mykdsmom
To: palmer
To: palmer
Spurred by President Bush's pledge to turn 5.5 million African American, Hispanic and immigrant households into homeowners during this decade
Who's gonna have to pay for all this?
To: palmer
33 posted on
10/27/2013 12:44:32 PM PDT by
First_Salute
(May God save our democratic-republican government, from a government by judiciary.)
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