ANSWER:

The harm has already been done when you singed the contract and agreed to pay the riba. 

Either the payment with riba is fixed and can’t be increased at all, and in this case, you can continue to pay it off as it doesn’t matter whether you pay it all at once or over the next 10 years as the final amount is fixed. 

Or the final payment is fluctuating and changing according to inflation and interest rates, and in this case, you should sell the house and pay the remaining amount immediately and you can keep the rest with the profit as this is halal for you 

QUESTION: I bought house w/riba-mortgage & get rent. I realised this major sin 6 month ago and been exploring Islamic finance since (failed). I can only sell house after 6 months. Can I keep (1) rent and (2) profit from sale of house? Or best give to charity for repentance?

Riba | February 8, 2024 11:48 am
Previous

QUESTION: I (FEMALE) live in USA and want to pursue higher education in medical field which is quite expensive. And my family is not that well off. Student loans charge 15% interest…and interest is haram. What should I do? If I take a student loan, will everything after that, including my education and job be considered haram?
Next

QUESTION: My father uses credit card and he has many EMI going on as well on it, he wants me help him pay the monthly bill (with his money). Am I sinful if I help him?