For years, Fartun Weli has been frustrated with the way low-income Somali Muslims in Minnesota have been targeted by shady home sellers edging their way into...
For years, Fartun Weli has been frustrated with the way low-income Somali Muslims in Minnesota have been targeted by shady home sellers edging their way into the community -- by exploiting a principle of Islam meant to protect the poor.
“This is a community that has been scammed,” said Weli, who leads Isuroon, a community nonprofit that supports Somali refugee immigrant women and their families resettling in Minnesota. “There are so many of them that just folded quietly. Most of our families are not even talking about it.” “We actually need to make sure that when people are struggling financially, they can sometimes know who to go for help, when to report and what we can do to make them feel comfortable and safe when it comes to speaking up," Chopra said.
“For a small niche of homebuyers, particularly in rural and farming communities, land contracts have worked. The CFPB should ensure that safe, alternative products are available for this community if land contracts become more limited,” according to a statement by the real estate trade group. “We believe interest is an unfair tool, that people who have wealth can leverage their wealth as a means of becoming more wealthy by taking advantage of the poor,” Qadhi said. “In our faith, giving someone a loan is an act of charity, it’s not a business.”
Predatory Loans Seller Financing Minnesota Fartun Weli Private Seller Consumer Financial Protection Bureau Somali Refugee Somali Civil War Minnesota Interest Payment
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