AP: Boom-years borrowing hits churches

Metropolitan Baptist Church was bursting out of its home.

From a group of freed slaves in Civil War-era Washington, Metropolitan Baptist had grown into a modern-day megachurch and community service powerhouse. In 2006, construction began on the congregation’s dream complex in Largo, Md. ”” a $30 million campus with a 3,000-seat church, an education center and an 1,100-car parking lot.

Last year, the congregation sold its church in Washington. Preparations began for the move to what leaders had taken to calling “God’s land in Largo.”

But on Oct. 20, their plans were abruptly put on hold.

The Rev. H. Beecher Hicks learned that financing for the project had dried up. Construction stopped. And the congregation found that it was homeless ”” reduced to renting space and struggling to find new financing.

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Posted in * Christian Life / Church Life, * Economics, Politics, * Religion News & Commentary, Baptists, Credit Markets, Economy, Other Churches, Parish Ministry, Stewardship, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

One comment on “AP: Boom-years borrowing hits churches

  1. Helen says:

    I wonder how many of these church preach the “prosperity gospel.” My guess is it would be a high percentage.