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Title: Houses of God Increasingly Face Foreclosure
Source: REUTERS
URL Source: http://www.msnbc.msn.com/id/36132044/ns/business-real_estate/
Published: Apr 4, 2010
Author: Tom Hals
Post Date: 2010-04-04 18:41:13 by Brian S
Keywords: None
Views: 1474
Comments: 2

FORT WASHINGTON, Md. - By the time thousands of parishioners stream into the 3,000-seat Ebenezer AME Church on Easter Sunday, church leaders hope to have something else to celebrate: financial revival.

The congregation, one of America's largest, has been scrambling to raise funds to save the arena-sized sanctuary from potential foreclosure. To that end, it has enlisted national leaders, such as the Rev. Jesse Jackson and Harvard Law School's Charles Ogletree, who was President Barack Obama's law professor.

Thanks to its 10,000-member congregation and connections with business and civic leaders, Ebenezer expects to avoid the fate of a growing number of U.S. churches, which are defaulting on loans, facing foreclosure and even declaring bankruptcy at an unprecedented pace.

"It's happening to virtually every church," said the Rev. Grainger Browning, senior pastor of Ebenezer. "At a recent meeting with the 100 top pastors in the country, it was amazing how all of us were facing some sort of challenge with the banks."

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#1. To: Brian S (#0)

"At a recent meeting with the 100 top pastors in the country, it was amazing how all of us were facing some sort of challenge with the banks."

How are the top 100 determined? Is it like the NCAA tournament?

Fred Mertz  posted on  2010-04-04   18:45:32 ET  Reply   Untrace   Trace   Private Reply  


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