Can the bank take my whole house if I default near the end of my mortgage?

sure that's thus people and look for the prosperity of humanity the way you the human system is all these things not necessary because who on earth how else would people how would they lubricate the kind of the finance of a society without things like profit for on giving money like nobody would give money without seeing some kind of a profit in it unless they were doing it as a charity but I mean human beings don't work generally on those charities you

want to give a loan for business then do marca do Madonna and it gives you more than two three percent of interest yeah but you see one you'll see but that's the other thing is is that when we talk about rainbow we we only look at certain our scholars so just two it doesn't talk about the whole let me just give you an example show you can get my whole picture of show I have a spell forget about the fact you have to pay for the service of getting a loan forget about that I don't even think that's the main part of RIBA that I have a problem with the part I have a problem is you

have a 30 year loan 30 years okay and in the river system if you don't pay the whole let's say out of the 30 years I paid perfectly for 25 years I had I borrowed a million dollars and I paid off nine hundred thousand dollars now I begin to default because some time in my life I'm gonna have a problem and I happen to lose a job now and I need time to get my another job right and and be able to pay off my mortgage again if you paid out of a million dollars nine nine hundred nine hundred nine hundred ninety nine thousand and nine hundred dollars

right that's theoretically they will take the whole of your house the whole okay right okay I just want to wish okay just about this example I don't want to you see because this example has a lot of kind of like there's a lot of confounding variable to be obviously there's a discussion of something like that would go through the courts there's a court medium intervention okay so then then legal systems would vary because here in the UK they would take it court

to him no but to repossess there has to be like an executable warrant that has to be kind of issued by the county courts now so you would have to take that process to the courts you would have to be essential case and the person that the resident the occupant would present their defense now there's many I I don't want to argue you know what this man he lost his job he's in a very bad situation why don't you give him another to be honest with you in mine in my knowledge the system I'm not I'm not in no way in favor of people ripping the public off but that's so amber just

commenting on my knowledge on this kind of an example in the UK from what a movie it's not that it's not that easy that it's nothing okay so the cars are slightly different to the homes so here that the home they won't just like so for example you default on a payment and they took you out of the house in fact mortgage companies are much more lenient than landlords they will because it's in their interest that you continue paying million dollar house back right no but the mortgage that they trying to I'm just I'm just telling you from practice I'm just telling you how it works here in the market if you default

on a mortgage payment they will contact you they will ask you what's going on now imagine you said like oh it's I've lost my job so they will try to come to some short-term agreement where you could pay in extenuating amount like let's say for six months eight months whereas I know but where as a landlord categorically wouldn't so like a landlord if you were renting he would just give you two months notice and evict you and he would have that so so it's not about the specific this is what I want to come back to rather than going into this example because I if you see

that example are still so many confounding variables if you have the house for a million dollars and you paid nine hundred thousand for some reason you can't pay the last hundred thousand they would sell the house give the 90 percent that that person paid for his share and the bank would keep the let's see phil has something but let's come to the actors big buy cars and they can't pay two three now a person has a car for fun see the problem with this see the problem with this ship is that you see I want to speak about the concept of RIBA that is the problem

rather than these particulars because these particulars vary once yeah they do not get ownership of all your hard work if you do not pay the whole thing yeah but that's you see once again I don't know whether that's always true that you already paid you see because I think that's a false what you it's it's it's a false kind of comparison because you see what you're saying you're giving a very particular detailed example and your counter example is just seems like utopian kind of paradise in saying well in Islam it's so beautiful and here it