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December 30, 2008

Churches Face Foreclosures

In the current mortgage crisis, churches seem to be increasingly falling behind or defaulting on loans, going into foreclosure, or going bankrupt, reports The Wall Street Journal.

Churches have historically been good credit risks, according to lenders, but with donations falling by as much as 15 percent in some places, dwindling congregations, and churches that have borrowed aggressively to build or expand in recent years, that may be changing, reports the newspaper.

Tuesday December 30, 2008 | Permalink

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