Special Report:Holy bubble! Churches struck down by foreclosures | Reuters:
"'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.'
Supercheap, few-questions-asked loans were a temptation even churches could not resist, but now they are paying for their sins as the debt crisis enters the house of God.
Long considered among the safest of borrowers, churches gambled on real estate at a time when credit copiously flowed and lenders were startlingly lax.
But places of worship have since been battered by the economic downturn. Donations have dipped, investment returns have plunged and bank credit is still hard to come by."