Churches Not Immune From The Foreclosure Crisis
DETROIT (WWJ) Not even the religious community is immune to tough economic times.
WWJ NewsRadio 950’s Rob Sanford reports that in the last two years, more than 200 churches have been foreclosed on nationally and only eight in the two years before that.
Just as many homeowners who borrowed too much or built too big in good times, many churches did the same and are now struggling as collections shrink.
To find out what happens when the door close, WWJ spoke to Chris Mackee Real Estate strategist, “Sometimes the property is re-used, I’ve seen churches converted into theatres, I’ve seen them converted into offices.”
With high unemployment, people just can’t donate the sums of money they were able to do when the economy was strong.