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Posted: 8/1/2002 2:12:58 PM EDT
[url]http://www.freerepublic.com/focus/news/726094/posts[/url] Washington Post (excerpt...click for rest of story) Still another concept American home buyers might see in the months ahead: a major move toward customizing loans aimed at new immigrants and minority renters. Spurred by President Bush's pledge to turn 5.5 million African American, Hispanic and immigrant households into homeowners during this decade, mortgage companies and banks are rolling out "cross-cultural" lending campaigns designed to accept nontraditional credit standards for mortgage approvals. 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 Goodbye Fannie Mae Freddy Mac...hello Fadi Malik?
Link Posted: 8/1/2002 2:20:57 PM EDT
Hmm... Does this mean that I could apply to refinance under one of these no-interest loans, and then sue based on religious discrimination? [thinking] Anybody? Bueller? Bueller???
Link Posted: 8/1/2002 2:25:37 PM EDT
Hey....Since I'm a faithfull follwer of the black rifle[:D], and am therefore prohibited from paying intrest, can I get one of those loans? Not to mention I'm a minority -- I'm a gun owner without a single "traditional hunting rifle". [rolleyes] FOTBR
Link Posted: 8/1/2002 2:27:50 PM EDT
I'm afraid this country is completely out of fucking control. Any citizen of this country who still has the nerve to call himself a muslim is not thinking clearly. Any non-citizen in this country who calls himself a muslim should be treated as an agent of the enemy. We are at war with the muslims, wherever they are, whoever they are. Wake up America.
Link Posted: 8/1/2002 2:31:54 PM EDT
That's not very multicultural of you. Diversity is this nation's greatest strength.
Link Posted: 8/1/2002 2:34:27 PM EDT
Raven, It is also are greatest weakness. [whacko]
Link Posted: 8/1/2002 2:43:18 PM EDT
No interest? Then what will they pay? Looks like we need more details, even though I'd love to jump on this bandwagon. Raghead pricks will have no chance in court to fight the banks. Banks don't HAVE to give free money to any group, regardless of whether its against their religion! Fuck these rags, let them pay like every other American.
Link Posted: 8/1/2002 2:48:09 PM EDT
My wife and I are both mortgage brokers, FHA approved, and we have heard nothing about this. In other federal housing programs, the lender is in no way forced to participate, it is however an 'all or nothing' proposition. A lender can either not participate at all or participate 100%, there can be no hint of discrimination. I would love to see the faces of some of my lenders when I presented a 'no-interest' loan to them. I would be laughed out of the office.
Link Posted: 8/1/2002 3:38:58 PM EDT
"Yeah, I'm calm. Why shouldn't I be calm, I'm a very calm person." "WHAT?!?" What do I see here? Looks like when I finally get to take out a mortgage on my own home someday, I'll be paying MY principal, MY interest, and THEIR interest as well! It's bad enough that you actually pay the interest on a mortgage before the principal (look at an amortization schedule if you don't believe me - you pay interest for the first ten years on a 25- or 30-year loan.) but to have to pay someone else's interest is asinine. I try to be tolerant, but you know that this "religious belief" thing is just going to bite everyone else in the ass - good and hard. I can't picture a lender being altruistic enough to simply forgive interest for a certain class of borrower - someone, somewhere, will end up paying for it. Someone is us. I'm so happy that these people will be able to buy homes. Meanwhile, I'm stuck paying $1800 in rent for a 45-year-old tract house, because we can't afford to make an $1100 mortgage payment. Tell me, does this make sense? Now, why does an immigrant have higher priority for buying a home than a disabled veteran? Why can't they work like everyone else? Why are we making it easier for them, but making the citizens pay for it? For that matter - why are they bitching about "acceptance" and "tolerance" when everything that happens around them only serves to set them further apart? FFZ
Link Posted: 8/1/2002 3:48:55 PM EDT
For the Muslims, they'd simply call it "fees", just as prostitutions may be illegal in Muslim countries, they arrange "temporary marriage", oh, say, one hour, with priests and paperworks and all to get around that silly law. Don't forget to tip your ex-wife!
Link Posted: 8/1/2002 4:15:00 PM EDT
Originally Posted By wiggy762: I would love to see the faces of some of my lenders when I presented a 'no-interest' loan to them. I would be laughed out of the office.
View Quote
How would the first lender deal with this and still make the loan? Fund at a discount? Points?
Link Posted: 8/1/2002 10:56:15 PM EDT
Sigh. The net amount paid is the same. It's just altered names of stuff to get around what even they realize is a silly restriction. Now, as to Muslims: Y'all may be aware that I'm the guy that wiped out the Million Mom March as a functional organization, right? I'm one of the two RKBA activists who proved that the MMM defrauded the city and county of SF of millions of bucks, and got 'em thrown out on their butts. See also: [url]http://www.ninehundred.com/~equalccw/commiemommies.html[/url] - note in particular the first article by Nadja Adolf and myself, and the front-page story from the SF Examiner (now archived on TFL). Well guess what? Nadja is a convert to a moderate, very sane form of Islam. Mind you, she IS an American, and an NRA firearms instructor and dedicated RKBA activist. She's probably got a better track record than most of the people talking on this thread. Now, she hates Osama Yo Mama as much as any of us. We've discussed this in detail - basically, the forms of Islam that have taken root in Saudi Arabia and Iran are so totally perverted it's disgusting. In the case of the "Wahabi" Arab variant, what's really going on is that truly weird, sexually perverted views of female sexuality going WAY back before Mohammed are still embedded in the culture. It's NOT Islam! Female circumcision, the "honor killings", the extreme restrictions on women's rights, that's ARAB CULTURE being "embedded" into Islam and used as an excuse for all kinds of horrific crap. We're dealing with a bunch of friggin' barbarians here. Religion is just an excuse, a bad one they can't even justify out of their own holy book. Example: Mohammed's wives cruised around on their own camels. So what the hell is this Saudi thing about women not driving? The Koran actually mentions Arab cultural sickness where female sexuality was concerned. Example: it was common practice for a father to kill at least one of his own daughters long before she'd hit puberty, so she could "die pure". Mohammed specifically put a stop to that practice but think a sec: what sort of sick motherfuckers was he dealing with that he HAD to do so!? We're at war with a twisted Arab culture! The damn Arabs used a lot of that oil money to open up low-budget schools all over the "Islamic world" to teach an absolutely diseased form of "Islam", as far away as the Philippines. THAT is what we're fighting. That's where the "Taliban" came from. Saudi Arabia is going to show it's true colors pretty soon now - the moderates in the House of Saud won't be able to hang on. Cool. Bring it on. THAT is the core of the cancer. We'll have a lot of sane Islamic US citizens FIRMLY on our side, starting with Nadja.
Link Posted: 8/1/2002 11:30:06 PM EDT
I have to agree with Jim on this one fellas. Remember how much we lament about the media, its uneducation and bias against firearms and the sheeple that belive their crap? Now imagine a society of dirt poor people run by filthy rich individuals who try to blame all hardship in life on the USA. Hitler did a number on the Germans in the same manner against Jews. Take a society that is already in the hole financially and ethically, throw in some twisted religious ideology, give them a common culprit and you have yourself one hell of a screwed up place. Do I belive that true Islam is the cause of this evil? Nope, nor will I excuse poverty. I do feel that the Muslim religion is far to easily interpreted incorrectly. With all other factors involved, I am not surprised about the Arab/Islam/terrorist culture being breed and perpetuated in the Mid-East. A society that is so homogenous unfortunately does not lend itself to courageous individuals to take the opposite side of the coin and fight for change. We have that freedom to fight here. I recall a spot on Fox News about a prominent Muslim cleric publicly expressing his irritation if not outrage at the lack of Muslims standing up in the fight against terrorist aggression. I applaud him. It would seem that the poison, however muted, has spread itself to many practicing Islam here. If there were more like him, the change would start.
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