Update-warning: Sharia compliant home financing in US – the Freddie Mac connecting, tax payer dollars, Obam admin funding and complicity, and now wanting to keep and rent foreclosed homes!

Posted on August 15, 2011

0


 
 
There is a move on to convince Americans that Shariah-compliant finance is the solution to our debt problems. Don’t you believe it.
 

 

Hey, Doesn’t this sound a lot like Communism?

Posted on August 10, 2011 by a12iggymom

ASSOCIATED PRESS: The Obama administration may turn thousands of government-owned foreclosures into rental properties to help boost falling home prices.
The Federal Housing Finance Agency said Wednesday it is seeking input from investors on how to rent roughly 250,000 homes owned by government-controlled mortgage companies Fannie Mae and Freddie Mac and the Federal Housing Administration. All of the homes are foreclosures.
The U.S. government rescued the two mortgage giants in September 2008 and has funded them since the financial crisis. Fannie and Freddie own or guarantee about half of the nation’s mortgages and nearly all new mortgages.
Read more here >>>

DeMint: Downgrades of Fannie and Freddie mean it’s time to privatize

By Daniel Strauss – 08/08/11 02:18 PM ET

From our previous post on this matter:

http://googleads.g.doubleclick.net/pagead/imgad?id=CPyAu9Kqx8X5chB4GNgEMgh57Dov6rnShgIslamic law and Home finance in US, strict Shariah compliance, didn’t believe it – think again! The worst part – Obama admin funding them through corrupt Freddie Mac (with your tax dollars)!

Sharia Compliant Home Financing available today through Guidance Residential. A national lender with over $2 billion in contracts.

On May 20, 2009, President Obama signed into law the Helping Families Save Their Homes Act of 2009 that is designed, in part, to address many oversights in the conventional mortgage industry. In response to the requirements of this new law, Freddie Mac, a corporation chartered by Congress to support the home financing market, will be sending you a standardized notification letter. If you receive such a letter regarding your Declining Balance Co-ownership agreement, it’s no cause for concern.

The Declining Balance Co-ownership Program has been designed to comply with Sharia principles from A to Z

Advertisements
Posted in: Uncategorized