Pir e muhtaram, thats totally haram, but did u check the islamic mortgage system i explained?
hazoor..one of my pals was a broker of these shariah complaint mortgages, not because of some love for shariah based financing, but because the job paid well :) i know the system well.
the amount of maneuvers they go thru to make it 'shriah compliant" similar logic can be used for any interest based transaction, even for interest bearingf checking accounts. but thats a whole diff story..