"Churches also have more flexibility than other borrowers in cutting expenses. They can end charitable programs or trim staff and still stay open for business."
Sunday, March 15, 2009
When Churches Get Foreclosed On
Saw this in the paper today. It bothers me on so many levels. Churches taking out interest-only loans, selling bonds to build buildings, having members take out second mortgages to keep the church going, and most of the churches in the article are Baptist affiliated. Probably my least favorite quote in the article, referring to how churches are a good bet for lenders: