SHAFAQNA – The Grand Ayatollah Makarem Shirazi answered a question about buying the house repossessed by non-Islamic banks.
Question: Can the house which is repossessed due to debts by non-Islamic banks be bought?
The Grand Ayatollah Makarem: Only when it is mortgaged, and the money has not been paid, and the house is taken back against the main loan, can be bought, and the banks must return the extra money to its previous owner.
Source: PERSIAN SHAFAQNA