Sound financial advice loses some power when you believe that God is pushing you toward a sub-prime loan. In the midst of the economic crisis, there has been “a steady increase in church bankruptcies and foreclosures,” according to Religion & Ethics Newsweekly. Churches are cutting back hours, laying off staff, and struggling for ways to stay afloat financially.
Churches placed their faith in the market, just like everyone else, real estate broker Eric Knowles told Religion & Ethics Newsweekly. Religious leaders, though, have an extra trump card. When Knowles advises against risky loans, pastors have said to him, “I understand by earthly standards this will not work, but God has called me to do it.” And it’s hard to argue with that.
Source: Religion & Ethics Newsweekly