Is it permitted to practice as a mortgage associate ?
Submitted by on Tue, 03/02/2009 - 05:31
Dear Brother / Sister,
Mortgage, which means pledge, is used to define a kind of real estate financing system.
Finance company buys a real estate in the name of the customer and delivers it to the customer. However, the real estate is pledged/mortgaged in return for the customer’s debt to the finance company. Then the customer makes his monthly payments to the finance company within a predefined period of time and payment plan.
If the system you will join runs this way, it is permissible. However, if it makes you use credit and charges interest out of it, then it is not permissible.
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