“churches” should NEVER have a mortgage in the first place. As when they get a mortgage they are placing their trust in man instead of God!
Churches in the United States are finding they’re not immune to the real estate crisis.
Many churches, The Wall Street Journal reports today, also can’t pay their mortgages because they took on too much debt and now face smaller congregations and declining collections amid high unemployment levels.
Banks have foreclosed on almost 200 religious facilities since 2008, the news organization says. That’s a huge increase from just eight in the prior two years and almost none in the decade earlier.
And, the report says, hundreds more face foreclosure or bankruptcy. . . . . .
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