Thinking about owning a home? Don't go for mortgage!

[Lamagoodle]

i believe it's nessarry who believe it's neccessary and only very few people are truly need it and it has consequesses in long term.

if people live with their own meaning, a lot of financial problems wouldnt happen. what is neccessary need some one to finance panamera turbo S and owe $50 000 credit card? i can go further and say, if you cannot afford reqular rent in supurb area with good schools , you cannot afford morgage!! do you know the cost of home mantaining? property tax?

in indaha la iska qabto ma aha... for reason riba is haraam not just lunatic religious peopole talk. it has much more underline financial problems that even these islamic scholars know.

Hyper, I have no loans,I don't carry a credit card and I don't pay interest rates (except to the Xawaalahs). But, who am I to tell others? I have the means to be free from the bondage of credits. However, I should understand that not everyone has that ability. I know that many of our people lead a tough life in the west. They need eduation to leave poverty; in most countries, you'd need a loan. I know that many of our people need to buy their homes and for that they need loans.

You cannot live in the west and also in many other coutries without paying interest rates. It is the oxygen of transactions,

[Hyperactive]

Lama.I have heard that argument used by many before.The 'if you cant beat them,join them'. The thing is,u as an Muslim individual,you are responsible and accountable for yourself,not the world finances.

Of choosing to work in a casino is different from working in a clothing store.Both deal with something haram(qimaar and riba) but are not similar income.
Same with having a bank account.I know the bank deals in riba but that is not my problem.My goal is to make sure not to accept riba in my income or pay it.By not having a mortgage,carrying a balance on credit card,having a saving account.

Mortgage is not a basic necessity.People have the option of renting.

i couldnt say better. thank you sister. this is what i wanted to say in 3 posts. Allah khair ko se,.

[Lamagoodle]

Lama.I have heard that argument used by many before.The 'if you cant beat them,join them'. The thing is,u as an Muslim individual,you are responsible and accountable for yourself,not the world finances.

Of choosing to work in a casino is different from working in a clothing store.Both deal with something haram(qimaar and riba) but are not similar income.
Same with having a bank account.I know the bank deals in riba but that is not my problem.My goal is to make sure not to accept riba in my income or pay it.By not having a mortgage,carrying a balance on credit card,having a saving account.

Mortgage is not a basic necessity.People have the option of renting.

o????
It is realism inadeer. You are right as a muslim your are responsibl for your deeds. My argument is on the double standards. Being careful is a virtue (btw even atheists, christians etc do this).

I am not an advocate of taking loans and paying interest rates. On the contrary, I think you should avoid it if you can. But for some it is the only option.

I am against the discourse created and disseminated by somalis. The nonsense that alot of us smoke.

[Lamagoodle]

BTW TUUSHI,
Read my response to Hyper earlier. I don't carry a credit card, I have no loans at the moment and I don't pay interest rates on loans etc. I had a good education. I took a loan and thanks to that I got a job and I have repaid every cent. Now, how many Somali kids can afford to go to university in the west without taking a loan? How many families can buy a home without credit??? HAD I LISTENED TO THE NONSENSE SPEWED BY UNEDUCATED WADAADS AND SOMALIS THAT DO NOT UNDERSTAND THE CONTEXT OF EDUCATION IN WESTERN EUROPE, I WOULD PROBABLY BE A THUG/HOMELESS OR LIVING OFF WELFARE

[Tuushi]

Lama.I have heard that argument used by many before.The 'if you cant beat them,join them'. The thing is,u as an Muslim individual,you are responsible and accountable for yourself,not the world finances.

Of choosing to work in a casino is different from working in a clothing store.Both deal with something haram(qimaar and riba) but are not similar income.
Same with having a bank account.I know the bank deals in riba but that is not my problem.My goal is to make sure not to accept riba in my income or pay it.By not having a mortgage,carrying a balance on credit card,having a saving account.

Mortgage is not a basic necessity.People have the option of renting.

o????
It is realism inadeer. You are right as a muslim your are responsibl for your deeds. My argument is on the double standards. Being careful is a virtue (btw even atheists, christians etc do this).

I am not an advocate of taking loans and paying interest rates. On the contrary, I think you should avoid it if you can. But for some it is the only option.

I am against the discourse created and disseminated by somalis. The nonsense that alot of us smoke.

The topic is mortgage.Give me an example of when it becomes the only viable option to have a mortgage.
Somalis are immersed in a lot of mess.One sin and qiyaano to the other.That doesnt change what rba is and how serious it is.

I have very close relatives who have mortgages.They justified it like you are.Saying it is necessary is kinda skewed in my opinion.They are the same folks who wouldnt hesitate to have a line of credit and have cash withdrawal from their credit card.

I am not saying we all need to be perfect but people also dont have to justify their choices.

[Tuushi]

BTW TUUSHI,
Read my response to Hyper earlier. I don't carry a credit card, I have no loans at the moment and I don't pay interest rates on loans etc. I had a good education. I took a loan and thanks to that I got a job and I have repaid every cent. Now, how many Somali kids can afford to go to university in the west without taking a loan? How many families can buy a home without credit???

I wasnt making this personally at all runtii.

I dont have debts either alhamulilah. Honestly,i cant sleep well if i did.I have fear that i am gonna die with a debt.

I also was a North American student.I took a loan and didn't pay a penny in interest.Because i knew i was not going to pay interest at all,i delayed my schooling and always held a part time job.

[Tuushi]

Lama.I have heard that argument used by many before.The 'if you cant beat them,join them'. The thing is,u as an Muslim individual,you are responsible and accountable for yourself,not the world finances.

Of choosing to work in a casino is different from working in a clothing store.Both deal with something haram(qimaar and riba) but are not similar income.
Same with having a bank account.I know the bank deals in riba but that is not my problem.My goal is to make sure not to accept riba in my income or pay it.By not having a mortgage,carrying a balance on credit card,having a saving account.

Mortgage is not a basic necessity.People have the option of renting.

i couldnt say better. thank you sister. this is what i wanted to say in 3 posts. Allah khair ko se,.

Glad to hear hyper.

[Lamagoodle]

Lama.I have heard that argument used by many before.The 'if you cant beat them,join them'. The thing is,u as an Muslim individual,you are responsible and accountable for yourself,not the world finances.

Of choosing to work in a casino is different from working in a clothing store.Both deal with something haram(qimaar and riba) but are not similar income.
Same with having a bank account.I know the bank deals in riba but that is not my problem.My goal is to make sure not to accept riba in my income or pay it.By not having a mortgage,carrying a balance on credit card,having a saving account.

Mortgage is not a basic necessity.People have the option of renting.

o????
It is realism inadeer. You are right as a muslim your are responsibl for your deeds. My argument is on the double standards. Being careful is a virtue (btw even atheists, christians etc do this).

I am not an advocate of taking loans and paying interest rates. On the contrary, I think you should avoid it if you can. But for some it is the only option.

I am against the discourse created and disseminated by somalis. The nonsense that alot of us smoke.

The topic is mortgage.Give me an example of when it becomes the only viable option to have a mortgage.
Somalis are immersed in a lot of mess.One sin and qiyaano to the other.That doesnt change what rba is and how serious it is.

I have very close relatives who have mortgages.They justified it like you are.Saying it is necessary is kinda skewed in my opinion.They are the same folks who wouldnt hesitate to have a line of credit and have cash withdrawal from their credit card.

I am not saying we all need to be perfect but people also dont have to justify their choices.

It is the only option for some. I came back to Sweden and it is virtually impossible to rent an apartment in big cities. The situation is the same in several european countries.
What about education????? In my part of the world it is almost impossible to become a doctor, engineer, economist or whatever profession without taking student loans....

[Methylamine]

I can understand Somalis in North America taking out mortgages to buy houses, but what's the point for the people in the UK? The prices are beyond ridiculous (yes I know it's cheaper outside London) and the house that you spent years saving up for can be acquired through the council.

Also, buying a house doesn't necessarily mean your kids will turn out fine.

[Hyperactive]

tuushi, you are right sister. hadey meel ko 3adahay, you will apply every reasons and excuses for your choices.

if people afford morgage they can afford good area to live. people see their peers and say; i can do it too. they do not think nessceessaty in their stuation but what others do and afford (who they belive not better than them) .

they think of gaining dunya not riba itself and it's downfail soon or later.

people who tell you that excuse they believe it and trying to make you see their point view and accept it.

[Lamagoodle]

BTW TUUSHI,
Read my response to Hyper earlier. I don't carry a credit card, I have no loans at the moment and I don't pay interest rates on loans etc. I had a good education. I took a loan and thanks to that I got a job and I have repaid every cent. Now, how many Somali kids can afford to go to university in the west without taking a loan? How many families can buy a home without credit???

I wasnt making this personally at all runtii.

I dont have debts either alhamulilah. Honestly,i cant sleep well if i did.I have fear that i am gonna die with a debt.

I also was a North American student.I took a loan and didn't pay a penny in interest.Because i knew i was not going to pay interest at all,i delayed my schooling and always held a part time job.

You were tactical. I borrowed around 250 000 dollars. I repaid every penny. In Sweden, we have a system which is meant to favour students who do not have rich parents. It is a self-governing system. Low interest rates. If you die or retire you dont need to pay. If you cannot pay you can default. When I was attending university, alot of my Somali friends were told it is xaraam; they fell for that and guess what? Today most of them are losers(criminals), political entrepreneurs back home in somalia selling nonsense.

[Tuushi]

Lamagoodle.Walaal i think we have different understanding of the word necessary.Do people have to live in big cities,accumulate thousands of dollars to be a doctor/engineer?


All i am saying is,everyone does what they deem necessary but please dont justify it.It is not a matter of life and death to have that shiny car,that big house or fancy education that u clearly cannot afford.

[TheCadaanGuy]

It is the only option for some. I came back to Sweden and it is virtually impossible to rent an apartment in big cities. The situation is the same in several european countries.
What about education????? In my part of the world it is almost impossible to become a doctor, engineer, economist or whatever profession without taking student loans....

Education is usually free if not cheap in many European countries excluding the UK. In the US, it's usually low for in-state students and many big name universities have bursary programs for non rich students.

I started university in the UK after tuition fee increase. The fees were £9k. What I did was, apply to universities who have bursary program for students who couldn't afford the fee. I also applied for grant from the gov.

In the end, I only had to pay up £1k per year. I paid it off with a job.

In many situations, you DO have a choice - not same choice but a choice nonetheless.

THECADAAN GUY, knowing somebody with 100 000 is not enough of a reason; do you know hundreds of thousands of somalis who can afford to buy a home without a loan?

You missed the entire point of this thread. Not many have £100,000 right now but many can save up for it.

When you can't afford to buy something, if it's not important then don't buy it. If it's important, then rent it until you can afford to buy it. Anyone should always try all other possible options before taking a loan out.

[zumaale]

Lama

As you rightly pointed out living in the West entails becoming involved with Riba in one form or the other but the truth is that people have a choice. It boils down to how much they are willing to sacrifice their Deen in pursuit of a higher standard of living; be it a student loan to increase one's chances in the professional world or avoiding extortionate rents by getting a mortgage. Some people with strong Iman are able to to do it so it is not beyond reason.

I also agree with you in that the global economic system revolves around Riba and the best of Muslims are those that avoid it by living a humble rural life. Even the insurance industry is akin to Riba in that you cannot pay money to insure oneself against Qadr; be it a car accident, death etc. Alas, most of us haven't got the strength of Iman to abandon their Western comforts and live the unpredictable life of a shepherd.

[Lancer]

Houses here in the US are so cheap you don't even need mortgage to afford it as long as you save up a few years.Even though most of the time you have to pay 100% of your schooling, you can cut the amount of money you have to borrow by applying for State or Federal Grants,Need-based Scholarships or Merit ones.

Thankfully I haven't taken out any loans so far but I can understand the people who do but at least be smart about it. No need to attend some over-priced private university, apply for scholarships especially local ones and work part-time to quickly pay it off while you are attending school.

Reer Europe should be grateful for their cheap or free colleges they get to attend. There should be little to no reason why the next generation is still leaving in government housing or receiving welfare benefits if they have such a huge advantage to move up the social ladder.