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Forum
-> Household Management
-> Finances
amother
OP
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Sun, Nov 12 2023, 9:26 pm
For context, I'm a single/divorced mother, low income, (not in the states) with a relatively low mortgage (around 100k) and a freaking high interest. Partly because I am low income so considered higher risk and couldn't get a mortgage with most places, and partly because the interest rates have been climbing high lately. I just about manage to pay my mortgage each month (sometimes with a bit of help from my father) but it kills me that most of it is interest and I'm hardly making a dent in my mortgage. I'm middle aged so at this rate I'll be old by the time I finish paying my mortgage and will be paying so much more in the long run. I can't refinance because no normal bank will give me a loan. My current lender is known for financing people in my position but at higher rates. I have no credit cards or cc debts and am generally on time with all my bills. I have children overseas who keep asking me to come and it breaks my heart but I can't afford to visit them or pay for them to come visit here.
I was wondering if there is a service in the Jewish community of wealthy people using heter iska to provide lower interest mortgages to people like me. Anyone know?
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amother
Jasmine
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Mon, Nov 13 2023, 12:05 am
I have only heard of G'mach giving interest free loans to help people buy a house, never heard of low interest loans.
I don't know how to get in touch with those type of G'mach, it was never nega for me, also I am in the states so I don't know what your community has.
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