IslamiCity Forum - Islamic Discussion Forum : Predatory lending http://www.IslamiCity.com/forum This is an XML content feed of; IslamiCity Forum - Islamic Discussion Forum : General Discussion : Predatory lending Sun, 19 May 2013 14:50:17 +0000 Mon, 25 Mar 2013 15:38:45 +0000 http://blogs.law.harvard.edu/tech/rss Web Wiz Forums 8.04 360 www.IslamiCity.com/forum/RSS_post_feed.asp?TID=20046 IslamiCity Forum - Islamic Discussion Forum http://www.IslamiCity.com/forum/forum_images/ICForum_Logo.gif http://www.IslamiCity.com/forum Predatory lending : Originally posted by schmikbobI... http://www.IslamiCity.com/forum/forum_posts.asp?TID=20046&PID=175026#175026 Author: nothing
Subject: 20046
Posted: 25 March 2013 at 3:38pm

Originally posted by schmikbob

I was wondering what the Islamic position was on loans.  I thought the Quran prohibited usury but not the legal charging of interest.


The interest mentioned in the Qur'an is the INSANE type of lending method, the unregulated. You only can understand this once you see it in action. In some case it is 100% interest. Today the so called Islamic Bank does not charge interest but fees and/or shared profit. The lenders are businesses that making money with their money, just like everybody else.
]]> Mon, 25 Mar 2013 15:38:45 +0000 http://www.IslamiCity.com/forum/forum_posts.asp?TID=20046&PID=175026#175026 Predatory lending : I don't have any idea about... http://www.IslamiCity.com/forum/forum_posts.asp?TID=20046&PID=174913#174913 Author: tristan12
Subject: 20046
Posted: 18 March 2013 at 2:10am

I don't have any idea about the Quran laws but yes, I will agree with you. It's really a complicated issue wherein we need to be aware to the predatory lenders. Make sure to have a background check first before lending  a money. However, people who suggest payday loans are deceptive are basically suggesting that all forms of credit are predatory. The basic argument is that payday cash advances demand cash to get paid back, which makes perfect sense because the cash is being borrowed. Payday cash advances are just like all other forms of credit and should be treated as such.]]> Mon, 18 Mar 2013 02:10:24 +0000 http://www.IslamiCity.com/forum/forum_posts.asp?TID=20046&PID=174913#174913 Predatory lending : Predatory lending is unethical... http://www.IslamiCity.com/forum/forum_posts.asp?TID=20046&PID=155392#155392 Author: Matt Browne
Subject: 20046
Posted: 12 May 2011 at 5:16am

Predatory lending is unethical in most world views.

We should expose the guilty.

]]> Thu, 12 May 2011 05:16:04 +0000 http://www.IslamiCity.com/forum/forum_posts.asp?TID=20046&PID=155392#155392 Predatory lending : How a foreclosure freeze could... http://www.IslamiCity.com/forum/forum_posts.asp?TID=20046&PID=154491#154491 Author: IssaEl999
Subject: 20046
Posted: 23 April 2011 at 4:00pm

How%20a%20foreclosure%20freeze%20could%20heat%20up%20our%20economy
 

How a foreclosure freeze could heat up our economy

By Dr. Wilmer J. Leon III

 

OPINION - In an economy that is still in recession, a rebounding housing market would go a long way towards providing much needed economic stimulus and stability...

> read more
]]> Sat, 23 Apr 2011 16:00:29 +0000 http://www.IslamiCity.com/forum/forum_posts.asp?TID=20046&PID=154491#154491 Predatory lending : Originally posted by Sign*Reader What... http://www.IslamiCity.com/forum/forum_posts.asp?TID=20046&PID=154452#154452 Author: Douggg
Subject: 20046
Posted: 22 April 2011 at 9:30pm

Originally posted by Sign*Reader

What else is new?
There is no more free lunches, you want desserts too...Tongue
What is so special about the moochers who want free houses?
They are the ones who main agents of the current mess who helped the banksters; it takes two to tangoWink

It is a complicated issue.   The banks made loans they shouldn't have made.  Many people were buying homes with the idea that they would profit big time in a few years, by flipping in a resale, and moving up.   The banks created phoney mortage backed securities CDO's.     Real estate became a speculative game that collapsed in on itself.
]]> Fri, 22 Apr 2011 21:30:21 +0000 http://www.IslamiCity.com/forum/forum_posts.asp?TID=20046&PID=154452#154452 Predatory lending : Brilliant idea, a foreclosure... http://www.IslamiCity.com/forum/forum_posts.asp?TID=20046&PID=154401#154401 Author: schmikbob
Subject: 20046
Posted: 21 April 2011 at 9:19pm

Brilliant idea, a foreclosure moretorium.  All those people that are owed the house they are in won't have to make payments at all now.  Someone tell me why a bank would wish to participate in this market given the idiocy that passes for legislation in Washington these days.]]> Thu, 21 Apr 2011 21:19:55 +0000 http://www.IslamiCity.com/forum/forum_posts.asp?TID=20046&PID=154401#154401 Predatory lending : What else is new? There is no... http://www.IslamiCity.com/forum/forum_posts.asp?TID=20046&PID=154392#154392 Author: Sign*Reader
Subject: 20046
Posted: 21 April 2011 at 1:01pm

What else is new?
There is no more free lunches, you want desserts too...Tongue
What is so special about the moochers who want free houses?
They are the ones who main agents of the current mess who helped the banksters; it takes two to tangoWink


Edited by Sign*Reader - 22 April 2011 at 12:56am]]> Thu, 21 Apr 2011 13:01:42 +0000 http://www.IslamiCity.com/forum/forum_posts.asp?TID=20046&PID=154392#154392 Predatory lending : Rep. Barbara Lee: Put the brakes... http://www.IslamiCity.com/forum/forum_posts.asp?TID=20046&PID=154381#154381 Author: IssaEl999
Subject: 20046
Posted: 21 April 2011 at 9:48am

  • Rep.%20Barbara%20Lee:%20Put%20the%20brakes%20on%20home%20foreclosures

    Rep. Barbara Lee: Put the brakes on home foreclosures

    By Rep. Barbara Lee

    8:54 AM on 10/19/2010

    OPINION - It's time for a national foreclosure moratorium -- It's the right thing to do...

    > read more
    • ]]>     Thu, 21 Apr 2011 09:48:06 +0000 http://www.IslamiCity.com/forum/forum_posts.asp?TID=20046&PID=154381#154381     Predatory lending : The usury is an obsolete term... http://www.IslamiCity.com/forum/forum_posts.asp?TID=20046&PID=154256#154256 Author: Sign*Reader
    Subject: 20046
    Posted: 19 April 2011 at 11:47pm

    The usury is an obsolete term for interest! They call it interest and than it becomes usurous in some state laws when people don't pay on time!
     The test of a true Islamic state would be the absence of interest; promotion of education, business enterprise and employment of the all able bodied...

    There are dire warnings about the interest based societies who borrow and spend to their destruction and misery!






    Edited by Sign*Reader - 19 April 2011 at 11:53pm    ]]>     Tue, 19 Apr 2011 23:47:31 +0000 http://www.IslamiCity.com/forum/forum_posts.asp?TID=20046&PID=154256#154256     Predatory lending : Have you seen the "Inside... http://www.IslamiCity.com/forum/forum_posts.asp?TID=20046&PID=154254#154254 Author: Sign*Reader
    Subject: 20046
    Posted: 19 April 2011 at 11:20pm

    Have you seen the "Inside Job" staring Barney yet?
    It is worth the time!


    Edited by Sign*Reader - 19 April 2011 at 11:21pm    ]]>     Tue, 19 Apr 2011 23:20:27 +0000 http://www.IslamiCity.com/forum/forum_posts.asp?TID=20046&PID=154254#154254     Predatory lending : There is no such thing as... http://www.IslamiCity.com/forum/forum_posts.asp?TID=20046&PID=154237#154237 Author: abuayisha
    Subject: 20046
    Posted: 19 April 2011 at 2:40pm

    There is no such thing as a perfect law. Opposing interests intersect, compromises are made, and the end result almost always never pleases everybody. Lenders violating any provision of the Dodd-Frank Act will not be criminally liable. Violating any of the new provisions are just civil offenses. The Dodd-Frank Act is nothing like the New Deal that protected depositors, borrowers, and investors between 1933 and 2000. Even with the short comings, the mortgage reform provisions within Title XIV of the Dodd-Frank Act are good first steps towards ensuring higher standards within the lending industry, promoting financial stability, and aiding in consumer protection.

    by Peter Hébert

    http://www.mynorthwesthomes.com/Blog/The-Mortgage-Reform-and-Anti-Predatory-Lending-Act

    https://www.lariba.com/home-financing.htm    (Islamic Loans)

    ]]>     Tue, 19 Apr 2011 14:40:50 +0000 http://www.IslamiCity.com/forum/forum_posts.asp?TID=20046&PID=154237#154237     Predatory lending : I was wondering what the Islamic... http://www.IslamiCity.com/forum/forum_posts.asp?TID=20046&PID=154236#154236 Author: schmikbob
    Subject: 20046
    Posted: 19 April 2011 at 1:11pm

    I was wondering what the Islamic position was on loans.  I thought the Quran prohibited usury but not the legal charging of interest. 
     
    I started thinking about this because of today's Reuter's article that says the US Congress is considering rules that will allow a borrower to sue a lender that does not verify certain loan qualification information such as employment history.  Specifically this is legislation proposed by none other than Barney Frank, one of the precipitators of the present day home foreclosure problem.  I find in fascinating that Congress is proposing rewarding the borrower that lies to the lender.
    ]]>     Tue, 19 Apr 2011 13:11:08 +0000 http://www.IslamiCity.com/forum/forum_posts.asp?TID=20046&PID=154236#154236