State of MN Offering Sharia Mortgages

In the face a $7 Billion deficit in its budget, the state of Minnesota has decided to enter the mortgage industry.

And not just any interest-yielding, money-maker for the state.

Mortgages specifically for Muslims.

Because Islam prohibits its followers from paying or charging interest, they don’t take out traditional loans.

Of course the state of Minnesota jumped when it saw an “underserved” group without access to affordable housing.

Now the state is creating “interest-free” mortgages for Muslims by inflating the price of a home and having the individuals make principal-only payments.

It’s really just putting lipstick on a pig.¬† At tax-payer risk.

More on this story from Hot Air here.

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Published in: on March 9, 2009 at 2:05 pm  Leave a Comment  

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