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In and of itself, mortgaging isn't haram in Islam; there are a number of hadiths (e.g. this one recorded in Bukhari) indicating that the prophet himself engaged in mortgaging transactions. The same can be said for the taking of loans. The problem with mortgaging comes from the fact that such loans often involve interest. For example, if you receive a ...


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There are special programs for this. Basically, you purchase the house or car and pay no interest, but in addition to your principle payments you also pay "rent" to the bank (or trust) which is proportional to the amount of equity the bank still owns. (Your rent decreases each month.) Mathematically there isn't much difference from an interest bearing loan, ...


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Remember Allah is most gracious most merciful, people like to see Allah as a God of punishment. He has no gain in punishing anyone other than to enforce justice or to straighten a person out. In your case Allah most high is delighted you found Islam and guided you regardless of what ever you were doing before. Allah knows that you and your situations won't ...


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Yes, you can do Hajj even if you have mortgage. If you are dealing with riba, then it is a big sin. But a sin does not prevent a Muslim from going for Hajj. Edits: Let me elaborate on this. For loans, if the lender is after my life to payoff my loan, then if I have money I must pay the lender and not use that for Hajj. But in mortgages, the minimum ...


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maybe i can help a little, i work at one of islamic/syariah bank in indonesia. according to my associate, apart from reconstruction or rescheduling, in case of default, rather than grab the house then sell it in order to cover the remaining debt in other words, we (bank) could buy back the house and sell it (auction). then bashir get the 40% of it. all ...


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