What's so hard about its not really anyone's business in either case?

It is when you are participating in a society. 

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Perhaps I missed something - was there more to this story than given in the post?

 

Talk about looking for something to get upset about. Muslim alert!!! Muslim alert!!!

 

Where is the part about making private lenders do anything? Where is the part that they get special deals for less than you or I would pay?

 

Perhaps the loans will be for a greater total, i.e., a total that would include what the interest would be over the course of the loan.

 

Don't hurt your back looking under the bed for the Monster Muslim.

Yes, you're supposed to read the story I linked to. We can't put the whole story in the post. 

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There is really no room for rationality when there is something to freak out about. 

I'm not freaking out. I just think it's unfair to allow this for some religious "law" while the rest of us have to pay. Unless what has been suggested by other posters (like fees or whatnot) is part of the deal so the lender gets their money anyway and the rest of us aren't left with even higher interest rates so they make up for the loss of interest on loans to these folks.

 

People can post stories just for conversation or to see what other people's opinions are. Not everything is about people freaking out. 

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I'm not freaking out. I just think it's unfair to allow this for some religious "law" while the rest of us have to pay. Unless what has been suggested by other posters (like fees or whatnot) is part of the deal so the lender gets their money anyway and the rest of us aren't left with even higher interest rates so they make up for the loss of interest on loans to these folks.

 

People can post stories just for conversation or to see what other people's opinions are. Not everything is about people freaking out. 

Don't you mean "deeply held religious belief"?

 

I also didn't direct it at you. what makes you think I did?

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That's what it sounds like to me.  The government is trying to break down barriers that would prevent banks from creating loans that would fit with the sincerely held religious beliefs of Sharia Muslims.  If this were "Christians" instead of "muslims" I imagine people would be calling this a good thing.  But since it's Muslims... 

No, I wouldn't care either way. I think everyone should pay their way. I guess the idea of a law such as this is just a very foreign concept to me.

 

I see this the same as when you go to a foreign country yet don't try to learn the language or local customs and laws and expect everyone there to accept your language and customs and you don't observe their laws. When you live somewhere it's what you do. When I lived in Germany I tried to learn as much of the language I could and obeyed their laws even if some didn't make sense, and was respectful of their customs.  

 

But I guess if it's a religious law....can't offend anyone who has sincerely held religious beliefs. Oh wait. That's already happening.

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Don't you mean "deeply held religious belief"?

 

I also didn't direct it at you. what makes you think I did?

The article called it a religious law.

 

I don't know.... I'm tired, in pain and have had a very long day. Not the best time to post on a message board I suppose. 

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Exactly,

They offer a product (loans with interest) they do not off loans without interest (probably). It's not a product they offer therefore it's not discrimination just like it's not discrimination to go into a Jewish deli and ask for bacon. They don't carry or sell bacon. 

I see your point.

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No, I wouldn't care either way. I think everyone should pay their way. I guess the idea of a law such as this is just a very foreign concept to me.

 

I see this the same as when you go to a foreign country yet don't try to learn the language or local customs and laws and expect everyone there to accept your language and customs and you don't observe their laws. When you live somewhere it's what you do. When I lived in Germany I tried to learn as much of the language I could and obeyed their laws even if some didn't make sense, and was respectful of their customs.  

 

But I guess if it's a religious law....can't offend anyone who has sincerely held religious beliefs. Oh wait. That's already happening.

 

It's not a religious law.  In fact it's not even a law.  They're convening a number of financial institutions to try to figure out a way to offer loans that would appeal to the sharia community.  That's really all they're doing.  


Also the great thing about America is that all customs are welcome here.  Or at least that used to be the case.  


And you might not care either way, but many who are up in arms about this would very much be applauding a community appealing to their religious beliefs.

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I was wrong about Trent Baalke. 

The article called it a religious law.

 

I don't know.... I'm tired, in pain and have had a very long day. Not the best time to post on a message board I suppose. 

The religious law is synonymous with their beliefs in many aspects. 

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It is when you are participating in a tyrannical society. 

 

FTFY.

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“An empty vessel makes the loudest sound, so they that have the least wit are the greatest babblers.”. - Plato

It's not a religious law.  In fact it's not even a law.  They're convening a number of financial institutions to try to figure out a way to offer loans that would appeal to the sharia community.  That's really all they're doing.  


Also the great thing about America is that all customs are welcome here.  Or at least that used to be the case.  


And you might not care either way, but many who are up in arms about this would very much be applauding a community appealing to their religious beliefs.

The article called it a religious law, not me. 

 

And you're right about the third point. I guess it's just a little hypocritical to me when people make the effort to appeal to one religious group while another one is practically demonized and sued for wanting to adhere their sincerely held religious beliefs. I understand the circumstances are not the same but I still find it hypocritical. If those businesses lose customers as a result of their beliefs then so be it. I would rather lose my business because I lived by my belief system the same way as these Muslims would rather never own a home if it meant they lived by theirs. 

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The article called it a religious law, not me. 

 

And you're right about the third point. I guess it's just a little hypocritical to me when people make the effort to appeal to one religious group while another one is practically demonized and sued for wanting to adhere their sincerely held religious beliefs. I understand the circumstances are not the same but I still find it hypocritical. If those businesses lose customers as a result of their beliefs then so be it. I would rather lose my business because I lived by my belief system the same way as these Muslims would rather never own a home if it meant they lived by theirs. 

 

Actually the article did not call it a religious law.  In fact all the article states is that it offers financial options that are compatible with their religious codes.


The other group is far from demonized.  They're sued in states where discrimination is illegal.  You can't break the law just because it's not compatible with your belief system.  Weren't you the one who said a moment ago that you obeyed other countries laws, even if they did not make sense?  

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I was wrong about Trent Baalke. 

only in america are we trying to find ways to subsidize a set of beliefs (Sharia Law) that ultimately calls for our destruction or conversion.

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only in america are we trying to find ways to subsidize a set of beliefs (Sharia Law) that ultimately calls for our destruction or conversion.

 

Meh, it's nothing new. They did/do it with the Proggies, Commies, and Socialists too. Any idea that's bad for America is always going to be high on that group's "to do" list.,

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“An empty vessel makes the loudest sound, so they that have the least wit are the greatest babblers.”. - Plato

Y'all, it's just interest by another name:

 

From the fox piece:

 

"Here's how a Sharia-compliant sale might work between a bank and a Muslim homebuyer: The bank agrees to buy and hold clear title to the house, then enters into a contract to sell the house at an agreed-upon mark-up price that includes profit. The buyer agrees to pay the sale price in installments, or one lump sum. The markup rate is calculated  to compete with prevailing interest rates, so the buyer's monthly payment is roughly equal to what a traditional lender might charge for a loan that combines principle and interest."

 

They'd mark up the house by the amount of interest that would be paid.  A 200k house would become a 350k house over a 20 year loan, and no one says the "i" word.  *poof* - Sharia compliant.  It's no different than changing around terms or language to make things Kosher or Mormon compliant.

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Y'all, it's just interest by another name:


From the fox piece:


"Here's how a Sharia-compliant sale might work between a bank and a Muslim homebuyer: The bank agrees to buy and hold clear title to the house, then enters into a contract to sell the house at an agreed-upon mark-up price that includes profit. The buyer agrees to pay the sale price in installments, or one lump sum. The markup rate is calculated to compete with prevailing interest rates, so the buyer's monthly payment is roughly equal to what a traditional lender might charge for a loan that combines principle and interest."


They'd mark up the house by the amount of interest that would be paid. A 200k house would become a 350k house over a 20 year loan, and no one says the "i" word. *poof* - Sharia compliant. It's no different than changing around terms or language to make things Kosher or Mormon compliant.

Really it's a worse deal because making extra payments or early payments eats away interest. They won't have that tool.

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Really it's a worse deal because making extra payments or early payments eats away interest. They won't that tool.

Outstanding point.

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Y'all, it's just interest by another name:

 

From the fox piece:

 

"Here's how a Sharia-compliant sale might work between a bank and a Muslim homebuyer: The bank agrees to buy and hold clear title to the house, then enters into a contract to sell the house at an agreed-upon mark-up price that includes profit. The buyer agrees to pay the sale price in installments, or one lump sum. The markup rate is calculated  to compete with prevailing interest rates, so the buyer's monthly payment is roughly equal to what a traditional lender might charge for a loan that combines principle and interest."

 

They'd mark up the house by the amount of interest that would be paid.  A 200k house would become a 350k house over a 20 year loan, and no one says the "i" word.  *poof* - Sharia compliant.  It's no different than changing around terms or language to make things Kosher or Mormon compliant.

 

You'd think a business doing something to increase their potential customer base and, by extension, profits, would be considered as American as apple pie.

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If something can corrupt you, you're corrupted already.
- Bob Marley


 

Really it's a worse deal because making extra payments or early payments eats away interest. They won't have that tool.

 

Very good point, but let me add a couple of other thoughts regarding this.

 

1.  How does a financial institution determine creditworthiness when considering someone for a loan?  In the case of a mortgage, income, debt and credit history is scrutinized.  How does someone build a credit history if they don't pay interest?

 

2.  Assume hypothetically that the current interest rate for a home loan is 8% for someone with "good" credit.  Say after 5 years the current interest rate drops to 4%.  A traditional borrower could refinance at the lower rate.  How would a "sharia complaint" refinancing be calculated?

 

The other thing(s) to consider are in the opening few paragraphs of the article that the OP linked to.  From the article.

 

 

"We will work to develop new tools for Muslims who are prevented from using conventional mortgage products due to their religious beliefs," Seattle Mayor Ed Murray said during a press conference July 13

 

Is this not government meddling in religion or pushing private business into serving said religion by offering different rules?  What's next?  Perhaps grocery stores should be "sharia complainant" and not offer the sale of bacon or ham because it "offends" those that supposedly practice sharia law.

 

Look at it this way.  Hard core Mormon groups are against alcohol or tobacco use.  Should the government be pushing for the ban of the sale of such products in those communities based solely on their religious beliefs?  Should there be a push for "Mormon complainant" convenience stores in certain areas?

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There are 10 kinds of people in this world.  Those who understand binary and those who don't.

only in america are we trying to find ways to subsidize a set of beliefs (Sharia Law) that ultimately calls for our destruction or conversion.

 

"Paranoia strikes deep, into your life it will creep. It starts when you're always afraid, step out of line, the man comes and takes you away."

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The sun's not yellow, it's chicken.