Others in same boat
According to Reuters news agency, church foreclosures have risen dramatically during the recession.
“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,” the news agency reported on March 9.
Reuters reported, “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.”
Mr. Bell recently “disinvested” his congregation’s money from the Bank of America in protest of that bank’s home foreclosure practices. Having a bank auction off a church property is equally troubling, Mr. Bell said.
“This is like foreclosing on 300 families all at once, or however many families are in this church,” Mr. Bell said of the pending Charles Street foreclosure. “With this historic church, it has been a guardian of this public trust. It’s more than just a financial contract, it’s a cultural contract.”
© Copyright 2013 The Washington Times, LLC. Click here for reprint permission.
Mark A. Kellner is a religion columnist for The Washington Times. He can be reached at firstname.lastname@example.org.
By Jay Sekulow
The left's outrage over the IRS turns to a plea to 'move on'
Independent voices from the TWT Communities
World's Ugliest Dog Contest
Spelling Bee finale
Marines train Afghan soldiers
Rolling Thunder 2013
Benghazi: The anatomy of a scandal