7 Reasons NOT to Get a Halal Mortgage | When to AVOID getting a Halal Mortgage and walk away.
In this video, I discuss in detail 7 reasons to avoid getting a Halal Mortgage. Many people do not realize Halal mortgages are not a One size fits all like the traditional interest mortgage for home financing. I talk about aspects such as Expenses, Taxes, Being exposed to Haram, and the Differentiation between halal vs halal vs Haram. Is a Halal mortgage right for you? Funding Source. What happens to your home if your halal mortgage company goes bankrupt etc.
Get $20 with the KOHO Pre-paid Mastercard no-fee account.
Download the app https://bit.ly/3E4SHiH
Jesse Reightburger Canadian Islamic Wealth: https://www.youtube.com/@CanadianIslamicWealth/featured
Halal Mortgage 101: https://youtu.be/Ib12z3kpUR0
https://youtu.be/Ib12z3kpUR0
2.89% Halal Mortgage vs 2.89% Interest Mortgage | The Difference | Diminishing Musharakah
https://youtu.be/FaScLgbzfHc
EXPOSED!!! Politicization of Mosques and Imams Promoting Fake Halal/INTEREST Mortgages.
https://youtu.be/0xft9vOw3qE
0:00 Important Message
4:11 Intro
8:19 Halal Mortgages are Expensive!!!
10:38 Taxes
11:54 EXPOSED TO HARAM
15:23 DIFFERENTIATION
17:15 Halal but not right for you
19:19 Funding Source from Banks
20:35 Bankrupt Halal Financing Company
22:33 If you want a halal Mortgage
#islamic #islam #HalalMortgages
42
views
How I bank Halal Using KOHO Pre-Paid Mastercard | My KOHO Review
How I Bank Halal Using the Koho Pre-Paid No Fee Mastercard. My Review
Get $20 with the KOHO Pre-paid Mastercard no-fee account.
Download the app https://bit.ly/3E4SHiH
Halal Mortgage 101: https://youtu.be/Ib12z3kpUR0
https://youtu.be/Ib12z3kpUR0
2.89% Halal Mortgage vs 2.89% Interest Mortgage | The Difference | Diminishing Musharakah
https://youtu.be/FaScLgbzfHc
Imams & Mosques Promote Fake Halal Mortgage Companies | Politicization of Mosques Exposed!
https://youtu.be/kIwGhoZ_ru4
----------------------------------------------------------------------------------------------------------------------------------------
The banking industry turns people into debt slaves through the use of high-interest rates, which can make it difficult for people to pay off their debts in a timely manner. This can lead to a cycle of debt as people struggle to make their monthly payments and may be forced to take on additional debt to cover their expenses. Another method is the use of aggressive marketing and advertising, which can make it difficult for people to resist the temptation to take on debt.
This can be particularly true for those who are already struggling financially, as they may feel that they have no other options. The lending industry takes advantage of people who are not fully informed about their rights and responsibilities when it comes to borrowing money, making it easier for them to take on debt that they may not be able to repay.
In Islam, debt is discouraged and viewed as an obligation that should be avoided as much as possible, unless it is absolutely necessary. Now, necessity doesn't include taking on debt to fulfill desires, false pride, or greed. Muslims must be aware of the dangers of debt and to try to avoid it as much as possible. It is also important to remember that.
If you have debt, it is important to seek the guidance of Islamic scholars and financial experts in order to get out of debt.
----------------------------------------------------------------------------------------------------------------------------------------
Are imams and mosques politicizing Islam? In this video, we explore the role of religious leaders and places of worship in shaping political views and actions within the Muslim community. From the influence of hardline preachers to the role of the mosque in shaping public opinion, we delve into the ways in which Islam is being used for political purposes. Whether you're a Muslim seeking to understand the role of your faith in politics, or simply interested in the intersection of religion and politics, this video is a must-watch. Don't miss out - make sure to tune in and join the discussion!
"This video is not sponsored. not legal advice. not financial advice.. Not intended to solicit any clients or customers currently under contract with any brokerage, corporation, or other business entity. The views expressed on my channel are my own and do not reflect or target any specific individuals or specific companies unless directly named by the specific name of an individual or company. Not Sponsored video"
-----------------------------------------------------------------------------------------------------------------------------------------------------
A home mortgage that aligns with your Islamic values! In this video, we explore the options of Murabaha and diminishing musharakah halal mortgages, as well as the benefits of building a strong credit history and making halal investments. Our expert discusses the pros and cons of each approach, helping you make an informed decision on the best path forward for your financial goals. Don't miss this valuable information on finding a home mortgage that fits your faith and financial needs.
#islamic #islam #HalalMortgages #koho
48
views
Debt!!! The Reality & Damages | What You Must Know | Islam and Debt
Get $20 with the KOHO Pre-paid Mastercard no-fee account.
Download the app https://bit.ly/3E4SHiH
Halal Mortgage 101: https://youtu.be/Ib12z3kpUR0
https://youtu.be/Ib12z3kpUR0
2.89% Halal Mortgage vs 2.89% Interest Mortgage | The Difference | Diminishing Musharakah
https://youtu.be/FaScLgbzfHc
Imams & Mosques Promote Fake Halal Mortgage Companies | Politicization of Mosques Exposed!
https://youtu.be/kIwGhoZ_ru4
----------------------------------------------------------------------------------------------------------------------------------------
The banking industry turns people into debt slaves through the use of high-interest rates, which can make it difficult for people to pay off their debts in a timely manner. This can lead to a cycle of debt as people struggle to make their monthly payments and may be forced to take on additional debt to cover their expenses. Another method is the use of aggressive marketing and advertising, which can make it difficult for people to resist the temptation to take on debt.
This can be particularly true for those who are already struggling financially, as they may feel that they have no other options. The lending industry takes advantage of people who are not fully informed about their rights and responsibilities when it comes to borrowing money, making it easier for them to take on debt that they may not be able to repay.
In Islam, debt is discouraged and viewed as an obligation that should be avoided as much as possible, unless it is absolutely necessary. Now, necessity doesn't include taking on debt to fulfill desires, false pride, or greed. Muslims must be aware of the dangers of debt and to try to avoid it as much as possible. It is also important to remember that.
If you have debt, it is important to seek the guidance of Islamic scholars and financial experts in order to get out of debt.
----------------------------------------------------------------------------------------------------------------------------------------
"This video is not sponsored. not legal advice. not financial advice.. Not intended to solicit any clients or customers currently under contract with any brokerage, corporation, or other business entity. The views expressed on my channel are my own and do not reflect or target any specific individuals or specific companies unless directly named by the specific name of an individual or company. Not Sponsored video"
#islamic #islam #HalalMortgages
19
views
2.89% Halal Mortgage vs 2.89% Interest Mortgage | The Difference | Diminishing Musharakah
In this video, I show you the real difference between 2.89% Halal Mortgages vs 2.89 Interest Mortgages. I debunk the myths that a 2.89% Halal Mortgage is haram due to whatever reasons many people assume. Showing you the real differences between a conventional interest mortgage and an Islamic financing one practiced all over the world. From markets of Malaysia. The United Arab Emirates. The London UK Islamic finance and now the North American Canadian Islamic financing difference.
"This video is not sponsored. not legal advice. not financial advice.. Not intended to solicit any clients or customers currently under contract with any brokerage, corporation, or other business entity. The views expressed on my channel are my own and do not reflect or target any specific individuals or specific companies unless directly named by the specific name of an individual or company. Not Sponsored video"
#islamic #islam #HalalMortgages
33
views
Imams & Mosques Promote Fake Halal Mortgage Companies | Politicization of Mosques Exposed!
"Are imams and mosques politicizing Islam? In this video, we explore the role of religious leaders and places of worship in shaping political views and actions within the Muslim community. From the influence of hardline preachers to the role of the mosque in shaping public opinion, we delve into the ways in which Islam is being used for political purposes. Whether you're a Muslim seeking to understand the role of your faith in politics, or simply interested in the intersection of religion and politics, this video is a must-watch. Don't miss out - make sure to tune in and join the discussion!"
"This video is not sponsored. not legal advice. not financial advice.. Not intended to solicit any clients or customers currently under contract with any brokerage, corporation, or other business entity. The views expressed on my channel are my own and do not reflect or target any specific individuals or specific companies unless directly named by the specific name of an individual or company. Not Sponsored video"
#islamic #islam #HalalMortgages
15
views
Fake Diminishing Musharakah | Halal Mortgage Scam | Fake Islamic Finance #islam
"This video is not sponsored. not legal advice. not financial advice.. Not intended to solicit any clients or customers currently under contract with any brokerage, corporation, or other business entity. The views expressed on my channel are my own and do not reflect or target any specific individuals or specific companies unless directly named by the specific name of an individual or company. Not Sponsored video"
#halal #Halalmortgage #islamic #islamicfinance #Halalmortgages
For a Partnership to exist. Losses or risk of losses are shared between partners proportionate to their shares in the overall partnership. Without sharing in the loss or the risk of loss it’s not a real partnership. The diminishing Musharakah Halal mortgage in Literal terms is an Optional Securitized Declining Share Partnership Agreement. Once again, Not a real Musharakah/Partnership if there is no sharing in the risk of losses. So your main question should be to confirm and demand to see the wording on the main contract that states the losses will be shared proportionally to equitable. Meaning actual ownership in the house of each partner. If you don’t see that or can’t confirm it, don’t buy into it. MOST financial institutions in the western world will not take equity positions in your properties. Because that requires taking risk of losses.
2nd excuse to watch out for is If you’re required to take the full risk of loss under the condition or explanation that you can take the full profit because you will become the eventual sole shareholder, buying out the other “partners”. That’s not a partnership. It’s a loan. One partner cannot guarantee the capital of the other partner.
Relevant to this is a third point to hammer down on. If there is recourse against you for any and all financial losses including losses not caused by your actions and that you’re not at the fault of. Once agian goes back to the financier not taking a real equitable ownership position in the home and not willing to share any losses. It’s a guarantee of the financiers' invested money. A real Diminishing Musharakah halal mortgage has no mortgage recourse for events where neither of the partners are the cause of losses. Losses are just shared according to partnership shares.
Early payment. If you make a full payment buying out the other partners, is there a penalty like 3 month rental rate or rental rate differential? If so, it proves that any profit in this deal is being made on the amount and time the money has been lent out which is interest. The correct term for those penalties is 3 months interest and interest rate differential penalties.
During a high-level meeting with a top members of one of these fake halal mortgage companies, I once asked how the partnership of the lender was registered at land titles in their “halal” mortgage process. His words “By the security registered against the property”. I won’t spend to much time on this point. Bottom line thats not right at all.
If you’re given this sorta explanation, 100% expect that you will be signing a Musharakah agreement with a 3rd party company, an interest loan agreement with a well-known bank and mortgage docs giving security to the bank but not your so-called Halal mortgage company. Means the Musharakah agreement you signed is Burnable! You can burn it. It means nothing along with the opinion of any imam or mufti who told you their process is Halal. You have a haram interest mortgage.
To understand if you already bought or are being sold a fake halal mortgage, you need to do 3 things.
1st is mindset. Remove your bias of wanting any option marketed to you as Halal as being authentic. No matter how much you may want the easy and familiar option to be halal, it’s not.
2nd is learning the differences between a real Diminishing Partnership Halal Mortgage vs straight-up regular Interest mortgage that you can get from down the street. Watch the full video Diminishing Mushakarah vs interest mortgage.
3rd Ask questions. I listed like 15 of them in the description of the video Diminishing Musharakah vs interest mortgage s please watch that video.
Are you a victim of a fake diminishing musharakah or halal mortgage scam? In this video, we expose the truth behind these fraudulent practices that are claiming to offer Islamic finance solutions. From fake Shariah compliance to high-pressure sales tactics, we reveal the tactics used by these scammers to defraud unsuspecting Muslims. Don't fall victim to these scams - watch this video to learn how to protect yourself and your family from these predatory practices. With valuable information and practical tips, this video is a must-watch for anyone looking to avoid the pitfalls of fake Islamic finance.
90
views
1
comment
Consumer Proposal Explained Stopping Interest on Debt | 70-80% Canadian Debt Relief
Get $20 with the KOHO Pre-paid Mastercard no-fee account.
Download the app https://bit.ly/3E4SHiH
Canadian Governments Website. What is a Consumer Proposal
https://ised-isde.canada.ca/site/offi...
Recommended Licensed Insolvency Trustees. (Please do your own research)
1: Farber: https://www.afarber.com/
2: Hoyes Michalos: https://www.hoyes.com/consumer-propos...
3: David Sklar: https://davidsklar.com/contact/
"This video is not sponsored. not legal advice. not financial advice.. Not intended to solicit any clients or customers currently under contract with any brokerage, corporation, or other business entity. The views expressed on my channel are my own and do not reflect or target any specific individuals or specific companies unless directly named by the specific name of an individual or company. Not Sponsored video"
#consumerproposal #Debtrelief #canadiandebtrelief #Consumerproposalvsbankruptcy #bankruptcy #Consumerproposalexplained
---------------------------------------------------------------------------------------------------------------------
If you owe between $1,000 and $250,000 in unsecured debt. Your debts can be settled legally through a consumer proposal filed with a Licensed Insolvency Trustee. Before I get into it, here are some points of the consumer proposal that you need to keep in mind.
A consumer proposal is not a bankruptcy. If you file for a consumer proposal you stop creditor actions like collection calls, court actions and wage garnishments while you negotiate your debt settlement. No payments or fees are required until your settlement proposal is filed with the government and you receive full creditor protection. A CP covers all of your unsecured credit card and lines of credit debits including CRA debt. You will not, lose your tax return, your home, your car, your RRSP’s, RESP’s, & Investments and you will not lose your ability to sponsor your spouse for immigration into Canada. Now that I’ve said that, lets continue.
In comes the Consumer Proposal which is under the bankruptcy and insolvency act but not a bankruptcy. It’s a formal, legally binding process that can only be administered by a Licensed Insolvency Trustee. The Trustee will work with you to develop a "proposal" which is an offer to pay your creditors a smaller amount then the total full amount of your debt. Here it is again.
The government of Canada legitimately offers a debt-relief program, called the consumer proposal, which can reduce your debt by up to 80% through a negotiated settlement with your creditors without interest or penalties. The remaining debt is repaid based on what you can afford on a monthly basis without interest. So you can get out of debt without ever declaring personal bankruptcy or resorting to costly debt consolidation loans that have ongoing interest accruing.
Are you struggling with debt and looking for relief? In this video, we explore the options available to Canadians seeking to stop interest on their debt and reduce their overall burden. From the 70-80% debt relief offered through a consumer proposal to the various options for stopping interest on credit card debt, we break down the pros and cons of each approach. Don't get scammed by predatory debt relief companies - watch this video to learn how to protect yourself and get the information you need to make an informed decision about your financial future. With valuable insights and expert advice, this video is a must-watch for anyone seeking debt relief in Canada
So Here’s what happens when you file a consumer proposal. Taking into account all of your regular household expenses, a license insolvency trustee will negotiate an amount that you can afford to pay based on your debts and income. Then prepare and distribute a proposal to your creditors requesting a settlement that is less than the full amount of debt you owe. No creditor can refuse participating in the debt settlement process because it has been brought into law under the bankruptcy and insolvency act.
Once again. If your consumer proposal is accepted by your creditors. You will pay back less than what you owe. Often 70-80% less. Debt collection calls will stop immediately. All high interest charges will stop! You will make one low monthly payment directly to your Trustee consolidating all your debt, without interest and without penalties.
Only Licensed Insolvency Trustees are federally regulated by the government to guide you through the process of filing a CP.
243
views
Ijara Fake Halal Mortgage Scam | Rent-To-Own Fake Halal Scam
Ijara Fake Halal Mortgage Scam | Rent-To-Own Fake Halal Scam
The Arabic word for rent is Ijarah and there is a whole Fake Halal Mortgage scam around it.
It goes like this. You approach a company thinking they will get you No Interest Halal home financing. They tell you that they’re a third-party Sharia-compliant solutions company, that have formal agreements with banks, lenders, and other financial institutions including pension funds to create a Rent to own. An Ijarah Halal mortgage arrangement using a trust and the banks' money. Truth is, they have no agreements like that with any banks whatsoever. It’s all a lie.
You’re told in a presentation or over the phone how their mortgage is “Halal”. That using a trust this company creates a rent-to-own arrangement with banks money. That the title ownership of the property belongs to the trust and not you.
To get started you submit your usual financial documents which get sent off to a regular mortgage broker who determines your Affordability. of what price range of a home you can purchase with your down payment.
You then go out making an offer on a home thinking you’re buying a home on Halal financing. Putting a deposit of $50,000 to $100,000 or more to a home seller, as is the norm when making an offer on a property. When you can no longer back out of the deal with the seller and your deposit money is gone. In other words when you’re stuck and really need that Halal financing now to close the deal with the seller.
They send you a Mortgage commitment letter from the local bank. Along with a 1 page of so-called Rental/Ijarah commitment with the exact same numbers as the Interest docs. The only difference is that on their commitment letter has the word interest replaced with the word Profit/Lease Rate.
By this point, you would ask, why’s the commitment letter you’re signing saying 3.89% Interest calculated semi-annually on a 5-year fixed term amortized over 25 years. That’s classic compounding interest by the way.
Here’s what’s happening. To convince you that you're getting a halal mortgage you're signing trust documents, which never officially gets registered at land registry office. You sign a fake lease between yourself and the trust you just created. And your actual mortgage lender has no idea about any of this whatsoever. So what’s happening here? What’s all this legal wordplay? Who are you really agreeing to all of this with? You yourself and you. You're the one who created the trust. You're the beneficiary of the trust and the manager of the trust.
The title of the property is never held by the trust like the company claims nor is the trust ever registered owner of the property. All they're doing is charging you a $2500 - $3000 fee for documentation that's never been viewed by the lender you're getting the mortgage from. Even the monthly payment, from the trust to the mortgage lender. Isn't from an actual trust bank account. It's from any other ordinary checking account that you opened and is under your name because You, The suckers don't know the difference between a regular bank checking account and a trust account.
When you submit your financial information to get approved for their version of halal mortgage, they're sending it off to the very mortgage brokers to get you qualified for the very interest mortgage that you've been avoiding all along from some douchebags across Canada. And these guys are collecting their cut of the commission from the local mortgage and real estate agent.
So what's happening here with all those extra documents that you signed? Nothing. Nothing, except you getting a regular interest mortgage and paying to be fooled by signing a stack of papers with words on it that aren’t even legal. Collecting dust is worthless, try burning it. It wouldn't make a difference.
"This video is not sponsored. not legal advice. not financial advice.. Not intended to solicit any clients or customers currently under contract with any brokerage, corporation, or other business entity. The views expressed on my channel are my own and do not reflect or target any specific individuals or specific companies unless directly named by the specific name of an individual or company. Not Sponsored video"
#IjaraRentToOwnScam #Ijara #Ijarah #FakeHalalMortgage
104
views
Credit Cards Halal? | Solution!
Get $20 with the KOHO Pre-paid Mastercard no-fee account.
Download the app https://bit.ly/3E4SHiH
"This video is not sponsored. not legal advice. not financial a. Not intended to solicit any clients or customers currently under contract with any brokerage, corporation, or other business entity. The views expressed on my channel are my own and do not reflect or target any specific individuals or specific companies unless directly named by the specific name of an individual or company. Not Sponsored video"
6
views
Diminishing Musharakah Halal Mortgage vs Interest Mortgage | Hard TRUTH!
The most literal breakdown of what a Halal Diminishing Musharakah in comparison to a traditional Interest mortgage. If you have wondered if your halal mortgage provider is actually selling you a real diminishing musharakah halal mortgage. Watch this video and go over the content. Youll easily be able to differentiate inshallah.
Questions to Ask Your Halal Financing Company!
1 - Is your diminishing Musharakah product contain 3 separate and individual contracts?
Ans: Answers coming soon. Watch the video for now.
2 - is your Musharakah contracts a 5 - 10 page document forming a partnership, a share buyout promise, and a rental agreement all in one contract?
Ans:
3 - Does your diminishing Musharakah product use specific language stating that the home is owned by the partnership and clearly states that all the partners take the shared risk of losses proportionate to their shares in the partnership? (If so can you please screenshot and send me that image?)
Ans:
4 - Are there any penalties for making full payment at any time of the mortgage?
Ans:
5 - Is there mortgage recourse against the home buyer for any and all financial losses including losses not caused by my conduct?
Ans:
6 - Does a Sale occur when I purchase partnership shares? Meaning. Is there an offer and is there an acceptance of the offer every time I purchase shares?
Ans:
7 - If so, do you provide a partnership share balance statement every time I purchase shares of the overall partnership which owns the home? Does a change of ownership occur between shares?
Ans:
8 - According to the government are your documents reflective of a loan or a partnership arrangement? As such what would they be registered as?
Ans:
9 - Is your “partner” in a diminishing Musharakah mortgage the name of a familiar bank or a conventional loan institution?
Ans:
10 – At any time will I sign a document that looks like a conventional interest loan agreement?
Ans:
11 - Will I be signing a loan agreement before taking possession of the property?
Ans:
12 - Are you gonna tell me that there is a Government requirement which states that I have to sign interest loan documents to get your diminishing Musharakah halal mortgage?
Ans:
13 - Will I sign A Musharakah agreement with your company, an interest loan agreement with a well-known bank, and mortgage securities where the bank is listed?
Ans:
14 - Are your scholars specialized in Islamic Finance?
15 - Who consists of your shariah advisory board?
16 - Who are the well-known Islamic banks or companies your shariah advisory board assists?
17 - Are you AAOIFI Compliant?
36
views
Halal Mortgages 101 | Everything you need to know!...Almost
Halal Mortgages 101 | Everything you need to know...Almost!
"Not intended to solicit any clients or customers currently under contract with any brokerage, corporation or other business entities. The views expressed on my channel are my own and do not reflect or target any specific individuals or specific companies unless directly named by the specific name of individual or company"
#HalalMortgage #IslamicFinance #HalalFinancing
14
views