A question. I know that people in debt are not obligated to pay zakaat. Does this apply to people who have a home mortgage too? Technically speaking it should but then everyone here would be exempt and many of us have a significant amount of savings too. So then what?
Femme: Its a very good question. I have wondered about it too. But I think since I have chosen to live in the US and it was my choice to buy a house on mortgage, I should pay zakat. I think in Quran there is an ayat that talks about the time when soul will be captured by the angels. They will ask why you did not do your obligations to God. Man will say because I was oppressed in the land. Angles will say than why did you not move. God's land was very big.
Also same is with credit card bills. If one is not paying them off totally, one is in debt. Does it mean you don't pay zakat?
So thats my logic & I pay zakat. I hope here we will get answers from people who have researched.
God bless you :)
FF, this question has been answered before.
The mortgage is a loan on "asset", since asset is not taken in calculation for zakat so the loan against it also not considered as "debt".
Thank you people.
Why don't you ask imam at www.dawat-e-islami.net or any imam you know, they can provide you better answer with details:)