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  1. #1
    doodlebug's Avatar
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    what to do about a mortgage

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    assalam alaykum

    I wish I hadn't just read what I read but I did.

    *sigh*

    I never knew that paying interest was haram...I thought only taking it was.

    I own a house and have owned it and lived here with my children for like 10 or 11 years now. What am I supposed to do? Sell it??? If I did where would we live? We'd have to rent somewhere but we'd be renting to someone who has a mortgage so how is that any different when I'm paying for someone else's interest laden mortgage???

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    Lina's Avatar
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    Re: what to do about a mortgage



    Here's something i've heared some many times. Allahu A'lam.

    This is what i've found on the subject:

    Question:

    As-salamu `alaykum. Is mortgage haram? If anyone is thinking of buying a home, can they go through the bank? There is a long waiting list and it ends up to be more expensive when you do it through the Islamic housing. So what are the options?

    Answer:

    Wa`alaykum As-Salaamu Warahmatullahi Wabarakatuh.

    In The Name of Allah, Most Gracious, Most Merciful.

    All praise and thanks are due to Allah, and peace and blessings be upon His Messenger.

    "Dear sister Laila,

    Mortgage as practiced in the United States and Canada is certainly prohibited. It is interest-based and interest is one of the most grave sins as the Qur'an tells us.

    However, Shari'ah itself is built on removal of hardships; consequently, the second International Fiqh Conference held in Detroit in the Fall of 1990 studied the issue of purchasing houses in North America and here is a brief summary of its resolution:

    1-There is no doubt that buying houses for Muslim families who live in North America is one of the important needs that affects all members of the Muslim community and can therefore be treated as a necessity.

    2-Muslims in North America has a religious duty to establish financial institutions that provide house financing on the basis of Shari'ah compatible contract.

    3-Until this is achieved, they must, individually and collectively, seek a contract with conventional financial institutions that do not violate the principles of the Islamic Law, i.e. that are not riba-based such as lease to purchase contracts.

    4-Until this is achieved, Muslim families who need to buy houses are permitted to resort to conventional mortgage.

    If there is an Islamic financial institution that overcharges for its services or that cannot satisfy the demands of Muslim families, you treat it as it were no existing, and resort to conventional mortgage to satisfy the housing needs."

    Allah Almighty knows best.


    Also:

    In the Name of Allah, Most Gracious, Most Merciful.



    All praise and thanks are due to Allah, and peace and blessings be upon His Messenger.

    Dear brother Siraj, the permissibility Fatwa is conditional on: 1) there are no alternatives that are acceptable to Shari`ah; 2) there is a need for house purchase on the basis of family size, schooling, public services, security, tax deduction, etc.



    Allah Almighty knows best.

    http://www.islamonline.net/livefatwa...GuestID=CNVQmQ


    what to do about a mortgage

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  4. #3
    DigitalStorm82's Avatar
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    Re: what to do about a mortgage

    Well Sis, this is where the phrase "Ignorance is a Bliss" comes in handy.

    Now it's up to you and Allah. You know where you stand.. and where Islam stands.

    The better choice would be to please Allah swt and move to a place where you can pay rent... so that at least you've tried your best not to pay rent.

    Second option is that you find a really rich relative and borrow money from them and pay off your house... and then return money to ur relatives slowly without interest.

    Third option... find an islamic bank to loan you the money without interest.

    Lastly, you stay in your house... Ask Allah for forgiveness and His help to help you through this situation.

    It's the same situation as student loans... have no choice.. either you don't go to college and become a laboror all ur life or u take a loan and make ur life better.

    All I can say is... if nothing can be done about it... hate this riba based transactions with your heart.. and ask Allah to make it go away fast... and keep asking for forgiveness.

    May Allah forgive us, Inshallah.

    Salaamz...

  5. #4
    doodlebug's Avatar
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    Re: what to do about a mortgage

    Thanks. Well I certainly don't feel right telling my children that we have to leave our home that we've lived in for all they're life along with our neighbors that they love so much so I guess I"ll have to search for an Islamic Bank in the US and in the meantime just hate the riba and ask for forgiveness.

    I don't see how renting though is any better since it would be paying for someone else's riba based mortgage.

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    Andaraawus's Avatar
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    Re: what to do about a mortgage

    here in the U.k we are drowned in that - or covered in its dust - we do what we have to do, but not go overboard, If we get forced into something Allah will forgive that,but if we just take this morgage thing out of hand getiing greedy buying properties here and there , then thats a different matter.
    These banks are ripping of peoples gold by dropping the value of money.
    Its the gold in the bank that counts, i think thats worth researching in this matter.
    what to do about a mortgage


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    Malaikah's Avatar
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    Re: what to do about a mortgage



    sis it sounds like you have already paid back the bank? so i dont see what the issue is?
    what to do about a mortgage


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    Re: what to do about a mortgage

    salams sis db
    that was done b4 u became Muslim.. so that's past and you don't have to worry about it inshalah.

    Remember in the same verse regarding interest.. the verse says 'but for whoever repents then they can keep whatever was past...'

    salams
    what to do about a mortgage

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    Re: what to do about a mortgage

    ps: n bro digistorm!

    Well Sis, this is where the phrase "Ignorance is a Bliss" comes in handy.
    lol now that's very untrue! Well.. atleast i hope people don't understand it 2mean 'i shouldnt learn about Islam so i can use ignorance as excuse'... coz people will be punished if they have ability to learn about their way of life and refuse to.

    but as i sed, in ur case db ur fine.. it was done b4 Islam so past is past, no need 2 worry insahlah

    ramadhan mubarak
    salams
    what to do about a mortgage

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    doodlebug's Avatar
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    Re: what to do about a mortgage

    No lol I have not paid it back. I have only had the house for ten years and it is a thirty year loan.

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    Malaikah's Avatar
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    Re: what to do about a mortgage

    ohhh ok... 30 yrs? man thats long
    what to do about a mortgage


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    Re: what to do about a mortgage

    Quote Originally Posted by doodlebug View Post
    No lol I have not paid it back. I have only had the house for ten years and it is a thirty year loan.
    salamz sis db

    hmm might wanna ask teh guys up at www.islam-qa.com i think they are trustworthy inshalah.

    All the best!

    salams


    - lolwatever
    what to do about a mortgage

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    Re: what to do about a mortgage

    Quote Originally Posted by cheese View Post
    ohhh ok... 30 yrs? man thats long
    yup...thats normal....

    to pay less...you have to buy it at the young age....


    so save money from today onwards
    what to do about a mortgage



    25:36 And the true servants of the Most Merciful are those who walk the earth with humility and when the ignorant address them, they respond with words of peace.


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