Questions tagged [mortgage]

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2
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3answers
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If interest is haram, how can a Muslim get a house or a car in modern times?

If interest is haram, how can a Muslim get a house or a car in modern times? The prices these days are so inflated it is impossible for regular people like myself to afford the so-called basic ...
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1answer
188 views

Is it riba (a major sin) to have a mortgage from before I converted to Islam?

Bought a house over 10 yrs ago on mortgage. I became a Muslim several months ago. I know riba is haram but I cannot sell the house because the other co-owners do not want to sell. I also signed a 2nd ...
2
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1answer
2k views

Can I perform hajj given that I have a mortgage?

I bought a house using mortgage and I'm planning to go for Hajj within 2 to 3 years. Will I be allowed to go for hajj if I'm still paying monthly house mortgage together with my husband?
6
votes
1answer
432 views

What happens in a Murabaha mortgage when the seller defaults?

The question Why is Murabaha not considered Riba? discusses the theoretical difference between Murabaha and riba. I would like to know if there is any practical difference. To be concrete, let's talk ...
2
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1answer
94 views

Rent payments with redemption

Assalamu aleikum. I have a question regarding mortgage. One of our state banks provide a program for young families. You have to open a deposit account and make certain deposit payment every month ...
7
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1answer
14k views

Why are mortgages haram?

I know taking loan and mortgage in haram in Islam. In UK, I am paying the amount of money as rent which I can pay as mortgage. If I pay as mortgage I will be the owner of that house after several ...
7
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1answer
4k views

Should a mortgage be treated as loan and hence be deducted from net worth when calculating zakat? [closed]

A mortgage loan, or simply mortgage, is used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds for any purpose, while ...