Last summer, I wrote here and here about the dangers of churches relying on debt to cover their ministry expenses and expansions, and why it is important for churches to operate debt free.
Earlier this month, Reuters posted this story noting that foreclosures on churches have tripled over the past couple of years. The article suggests that the majority of foreclosures are being caused by building loans that the churches can no longer afford.
If your church is in debt, no matter how great or small, I encourage you to pay it off as quickly as possible. It might be possible for you to do it now verses later should the recession worsen.
Oh, and I wouldn't buy into the notion that God will get you out of the debt troubles your church might be facing. The hundreds of congregations that have gone bankrupt or filed for foreclosure have experienced what God warns against. Proverbs 22:7b says "...the borrower is the slave of the lender."
God's instructions on debt and money are pretty clear. If at all possible, the church should not be using debt as the means to increase its territory.
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