Tag Archives: finance

Church Foreclosures on the Rise

Church foreclosures are on the rise throughout the country.

Traditionally, churches were considered solid borrowers with a steady cash flow from donations and tithing. Now congregations are shrinking due to unemployment and the downturn in the economy.  If membership is down and the church has a loan with a large balloon payment, it may be unable to pay and face foreclosure.

Some churches finance through the use of unconventional bonds rather than traditional 30 year mortgages.  The bond underwriters offer up front money if the church will issue compound interest bonds. The bond option typically gives the church an extended term without a payment due.  However, at the end of the term, a very large balloon payment of principal and accrued interest is due. The church may owe as much as double the original amount.

With the value of property down and cash in short supply, many churches will not have the funds to pay off the bonds and will have trouble refinancing.

Nevertheless, Scott Rolfs at Ziegler, an investment bank that helps churches obtain financing says “the easy credit in the mid-2000s” exacerbated church financial problems.  “For 99% of the church-going public in America, their church is coming through the recession just fine.”

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Filed under Consider the Law

Announcing the Launch of Our New Website

Dbrill logo

With our recent move to our new offices, we’ve also given our website a new look and feel.

I’d be delighted if you’d visit our new site to learn a little more about what we do in the areas of:

Banking & Finance

Business & Corporations

Commercial Lending and

Real Estate

If you have any questions, please don’t hesitate to ask.

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Filed under Uncategorized

Why Are Women Losing Jobs And Men Gaining Jobs?

Men are regaining jobs faster and women are losing them, according to the Pew Research Center. The study found that men are making inroads in industries long dominated by women, such as nursing and teaching. The percentage of male nurses climbed from 9.5% in 2003 to 12.2% this year.

Men gained jobs at a faster rate than women in education and health services, professional and business services, and leisure and hospitality. In other sectors, including retail, finance, and federal government, men gained jobs while women lost jobs.

In each of the recovery periods since 1970, women have regained jobs at a faster rate than men within the first two years of the recovery. Between the end of the recession in June 2009 through May 2011, men gained 768,000 jobs and women lost 218,000 jobs.

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Filed under A Need to Know Basis