Question about Mortgage Payment after House Destruction

Heter Iska

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Question

In the latest Iranian attack, my house was directly hit. Thank God, I wasn't home, but the house was severely damaged, and the city engineer announced its demolition. Can I/should I/am I allowed to continue paying the mortgage to the bank?

Answer

Hello Rabbi,

You must continue paying the mortgage according to the bank's rules.

Since in the text of the heter iska it is written that the bank is a partner in all the borrower's businesses, not just the apartment. From the bank's perspective, it is sufficient that you may have another business to permit the collection.

Source

Source: Consultation with a rabbi and bank regulations.

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