islamic Terrorism From Minnesota- State Issuing shari'a Compliant Mortgages

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We had a good read. For the benefit of yourself. Be sure to read to the end. I want you to get good knowledge from Fha Interest Rates . Somolians. From refusing a taxi ride when someone is drunk-to putting footbaths on college campuses for ritual washing. "Hey ACLU commies!! Where the Fuck are you on this one???" hotair.com How does it work? The state buys the home and then sells it to the buyer at an inflated price, more or less masking the market interest rate as principle. They they set a 30-year payment schedule where the family pays down the debt, but without any interest. The state makes a profit eventually, and people get to buy homes rather than rent. My objections to this have less to do with the religious aspects of this than the intrusion of the state into a private lending market. Other private lenders had begun meeting the market demand by crafting sharia loan models themselves. The states entry into this market will act to push others out, as the state has more lending power and more credibility than private lenders do. That essentially steals capital from the market, and it also reverses the tax flow, as profit in the private market would generate revenue to the state. Minnesota is cheating itself in this transaction. Moreover, our state faces a billion shortfall over the next two years. Why are we buying houses for people at six figures a throw in exchange for monthly payments over the next 30 years? The capital we have needs to go to more legitimate state functions, instead of distorting the lending market once again. And how well qualified are these buyers, anyway? As we discovered in ...

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