Fulfilling interest-based home financing contracts : continue paying interest-based mortgage or walk out of the house ?

Fatawa Question

Assalamu Alaikum. I am a 34 year old with a 10 year old child. At present I'm living in the home that I purchased with my exhusband. At the time of purchase I did not have the full knowledge of the Riba as I have know. During the divorce the house was awarded to me and my son and my ex-was held responsible for the second mortaged he took out on the house for repairs and he choose to use it for his own personal use. We took out the mortage for 72 thousand dollars for the house and in turn my ex-took out another loan on top of that for 25 thousand dollars for repair of the home which no repairs were done on it. this action along with other actions led to our divorce. The judge awarded me the house to me and my son and the 25thousand dollar loan to my ex-husband. Now that I know better about the Reba I want to know what I should do as, my ex-husband has went through bank ruptsy and the loan he took out on the house is added to the house as a lien on it. The house is not worth the price that it has on it. What do I do go through bank ruptsy or just walk away from it. or should I just keep paying for it as right now I’m unemployed and have nowhere to go. Please advise me as to what steps I should take to releive me of this Riba. As Salaam Aliakum

Fatwa

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Publication Date

2002-12-17

Main Subjects

Financial and Accounting Sciences
Islamic Studies

Topics

• Islamic jurisprudence
• Dwellings
• Financing
• Purchasing

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-725525

• APA
• MLA
• AMA