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All Forum Posts by: Nelressa Faye

Nelressa Faye has started 4 posts and replied 12 times.

@Andrew Syrios Yes, that’s correct 

@Lance BloggsThanks I appreciate it.

There is UFI and Whittier bank in California. Any person can get one no matter the faith or beliefs.

Originally posted by @Benjamin Piecenski:

For those curious on how Islamic Financing works, here's a great, informative article that I found really interesting.  https://www.investopedia.com/articles/07/islamic_investing.asp

@Tiffany Griggs I’m sorry you paid interest but luckily I didn’t. (Technically it’s haram ursury for Jews and muslims) Also, I found three here in US and got pre approved, alhumdililah.

Post: Mortgage Foreclosures Surplus Funds

Nelressa FayePosted
  • Specialist
  • Piscataway, NJ
  • Posts 15
  • Votes 8

Any new information on Mortgage Foreclosures Surplus Funds in 2019? I see some places have automated the system but curious if it’s worth the money. Has any tried these: http://www.surplusfundsriches.com/support.htm (can’t find any reviews) and surpluslist.com?   

Originally posted by @Dennis M.:

They are all going to want interest on their money . Something old  allah  would be most unhappy about ! People charge interest for a reason 

 When I lived in Dubai I received loans and paid them back but I'm not sure how it works here.

Originally posted by @Andrew Syrios:

Doesn't Sharia Law prohibit charging interest?

 Yes that's correct. Usually, the lender should charge a flat rate upfront or something like that.

Originally posted by @Jason D.:

@Nelressa Faye I don't know if a Hard money lender could be sharia approved, but I do know that the University Bank of Michigan does traditional loans that are sharia approved.

This is a good resource for Islamic funding. They may be able to help as well....

https://ijaracdc.com/

 Thank you for your response I will reach out to this one.

Post: Would you purchase a house that haunted?

Nelressa FayePosted
  • Specialist
  • Piscataway, NJ
  • Posts 15
  • Votes 8

@Michelle Bulich No way!! There are other deals man. Lol 😂 I just had this conversation with a wholesaler near me. Everyone that bought the house had a history of suicides and when you walked in there was Satan worship signs everywhere and Bruhiya or santa something or other. Had a bad vibe. The house is still there ten years now...

Anyone know any Halal friendly or sharia hard money lenders. If not, any lease to own lenders for income generating buy and hold deals?