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| Great White North | |
| Sharia-compliant mortgage lender in receivership | |
| 2011-10-19 | |
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| Posted by:ryuge |
| #5 I think it means the tenants have a new land lord and no equity. |
| Posted by: Nimble Spemble 2011-10-19 14:36 |
| #4 "...Islamic finance is based on the Abrahamic principles of fairness, justice and equality. As opposed to evil Western arithmetic. Those clients “have rights and they have obligations, and those are unchanged,” Since, in this scheme, the lender owns the house and rents it to the buyer, does this mean the 'homeowners' are now 'homeless'? |
| Posted by: SteveS 2011-10-19 14:26 |
| #3 Wait for the Credit Union that was supplying the money to go broke as a result of this. It might, just might, be the first shot of a downward trend in real estate in Toronto, or as it's known in the rest of Canada, "The Centre Of The Universe". OH NOES!!! I though real estate always went up in value! Personally, I'd like to see them all go "boom" just to hear the whining. And gloat. A lot. |
| Posted by: Canuckistan sniper 2011-10-19 13:56 |
| #2 from the Company web site "...Islamic finance is based on the Abrahamic principles of fairness, justice and equality. Islamic finance promotes trade and forbids usury, interest and uncertainty. Compared to conventional finance, Islamic finance is more secure, more balanced and is open to all..." |
| Posted by: Lord Garth 2011-10-19 13:41 |
| #1 he estimated up to 2 percentage points more than if he’d gone through a bank — but was happy to pay the price “because my conscience was satisfied. Dummy. |
| Posted by: JohnQC 2011-10-19 13:08 |