Saturday, March 5, 2011

Guidance Residential - Sharia compliant mortgages from J. P. Morgan Chase

Watching television the other day, I heard a familiar tune in the background of a J. P. Morgan Chase commercial. It was Cat Steven’s “The Wind”. Cat Stevens was a favorite of mine in high school, and I, like Dennis Miller, am really ticked off with what Islam did to him. He stopped making music and changed his name to Yusuf Islam.
Fast forward back to today, and I became a little curious as to why his song is in an American banking commercial. Ever the researcher, I “googled” J. P. Morgan Chase and Sharia and guess what? J. P. Morgan Chase is now providing Sharia compliant mortgage financing for homebuyers and refinance mortgages for homeowners. The program is called Guidance Residential.

I wonder what happens when someone defaults!

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