Churches Become the Latest Victims of Foreclosure | The Atlanta Post: "The country is still reeling from residential and commercial real-estate properties falling into foreclosure, but the banks are going to have even messier plates due to recent reports that a number of churches are struggling to keep their doors open.
According to The Wall Street Journal, many churches borrowed too much or built too big during boom times and now are struggling to repay their debts as membership and collections shrink. Real-estate services firm CoStar Group Inc. stated that nearly 200 religious facilities have been foreclosed on since 2008. Rev. Jesse L. Jackson Sr. told the Journal that “churches are the next wave in this economic crisis.”"
No comments:
Post a Comment