Section: Questions Category: Money Matters
|Money Matters - Home Equity Loan|
|Submitted by Chaim Answered by Rav Yehonoson Hool|
No. The bank does not recognize your friend,
only you. So the bank is lending you money (with interest) and in effect
you are lending money to your friend, who is paying you interest by
paying off your debts of interest to the bank.