Banksters Foreclosing on Churches in Record Numbers

Banks foreclosing on churches in record numbers

(Reuters) – Banks are foreclosing on America’s churches in record numbers as lenders increasingly lose patience with religious facilities that have defaulted on their mortgages, according to new data.

The surge in church foreclosures represents a new wave of distressed property seizures triggered by the 2008 financial crash, analysts say, with many banks no longer willing to grant struggling religious organizations forbearance.

Since 2010, 270 churches have been sold after defaulting on their loans, with 90 percent of those sales coming after a lender-triggered foreclosure, according to the real estate information company CoStar Group.

In 2011, 138 churches were sold by banks, an annual record, with no sign that these religious foreclosures are abating, according to CoStar. That compares to just 24 sales in 2008 and only a handful in the decade before.

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Comments
5 Responses to “Banksters Foreclosing on Churches in Record Numbers”
  1. Its simple the banks purchased foreclosure insurance for churches too, (AIG Bail out) so they are foreclosing churches with your tax money

  2. how can we foreclose on a church during these stressful times, maybe they should start charging admission for the banks, would that make them happy?

  3. joi says:

    To you above. I see you are very ignorant and a puppet of Satan. That remark clearly says it all.

  4. StuckinSoPa says:

    Church, office building, individual house, what’s the difference.
    Just more bricks, wood, and mortar than someone could afford. Don’t pay the bill, you are outta there, and rightly so. What makes a church (just another business) think that it is any different.

  5. Ken Handle says:

    It’s a land grab by the mafia. Churches, old people, young people, military people, non-military, men, women, children. This is your Government in action folks, can’t have a bank seize without a Government that sees no problem in punishing and destroying you. OCCUPY!

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