The Wall Street Journal is reporting that an increasing number of churches are being forced into bankruptcy and foreclosure, due to the burden of their mortgage debt and a dwindling contribution base. 

Giving is down 15% in some places, according to the article, which cited data from pastors and lenders.

Until the past few months, foreclosures on churches were very rare, as church financial leaders were very conservative and hesitant to go into debt.  However, construction on church buildings grew from $3.8 billion in 1997 to $6.2 billion in 2007, which increased the pressure on churches to keep people in the pews and giving generously.  As the economy soured, pledged offerings did not come through, and financial problems for the churches ensued. 

The problems even caused a lender to churches to fail, Church Mortgage & Loan, after they were unable to sell properties on which they were forced to repossess.

Clearly, this is a set of unfortunate circumstances, as these congregations likely had lofty goals of building places where they could reach out and impact their communities. 

The underlying problem is likely that the congregation members are having financial problems as well, which impedes their ability to give as much as they would like.  Financial education is a huge need right now, as this article illustrates.

I pray that things turn around quickly, so that more churches don't fall behind and lose their buildings.