Usury is the practice of making unethical or immoral monetary loans.
Long ago, this practice was considered immoral and vile, and there were laws against it. For those of you who are Biblically inclined, the Bible has many passages against usury such as:
Exodus 22:25
“If you lend money to any of my people with you who is poor, you shall not be like a moneylender to him, and you shall not exact interest from him.
There are more quotes here if you'd like to peruse this page :
Usury
It's something to think about, that the USA has become a country of debt and debtors, and those who try to avoid this trap are looked at with suspicion. Anyone who is in a usurious business is not going to like someone who avoids usurers and their dirty business.
Usurers:
Credit card companies
Banks
Mortgage Brokers
Agents who work with banks to secure mortgages
Etc. , the list goes on.
Let me ask you something:
Is it moral to find someone in a time of need and extract very high fees to loan them money in their time of need? For example: A $100,000 home loan eventually being paid back for $300,000 - and that is a conservative estimate. This is your typical, average mortgage deal. Is it moral to find someone at a time of need such as youth, inexperience, divorce, loss of fortune, etc and enter them into this destructive financial contract?
Is it moral to lure those who have paid off half their mortgage into refinancing and taking the equity out of their loan, just to keep those payments coming in longer? Or lure them with remodeling, updating, etc - just to keep them paying on that loan for the rest of their lives? What about their children and families who will inherit debt?
I personally think that this is the OPPOSITE of moral, that it is unbelievably evil and should be avoided by EVERYONE at ALL COSTS.
Just sayin'....
Here's an interesting site - 10 Percent Is Enough
Long ago, this practice was considered immoral and vile, and there were laws against it. For those of you who are Biblically inclined, the Bible has many passages against usury such as:
Exodus 22:25
“If you lend money to any of my people with you who is poor, you shall not be like a moneylender to him, and you shall not exact interest from him.
There are more quotes here if you'd like to peruse this page :
Usury
It's something to think about, that the USA has become a country of debt and debtors, and those who try to avoid this trap are looked at with suspicion. Anyone who is in a usurious business is not going to like someone who avoids usurers and their dirty business.
Usurers:
Credit card companies
Banks
Mortgage Brokers
Agents who work with banks to secure mortgages
Etc. , the list goes on.
Let me ask you something:
Is it moral to find someone in a time of need and extract very high fees to loan them money in their time of need? For example: A $100,000 home loan eventually being paid back for $300,000 - and that is a conservative estimate. This is your typical, average mortgage deal. Is it moral to find someone at a time of need such as youth, inexperience, divorce, loss of fortune, etc and enter them into this destructive financial contract?
Is it moral to lure those who have paid off half their mortgage into refinancing and taking the equity out of their loan, just to keep those payments coming in longer? Or lure them with remodeling, updating, etc - just to keep them paying on that loan for the rest of their lives? What about their children and families who will inherit debt?
I personally think that this is the OPPOSITE of moral, that it is unbelievably evil and should be avoided by EVERYONE at ALL COSTS.
Just sayin'....
Here's an interesting site - 10 Percent Is Enough
No comments:
Post a Comment