A Record Number Of Churches Are Facing Foreclosure

12.16.11 | Sarah Harnisch

   Since 2008, more then 200 churches and religious groups have lost their property because of debt. The number of churches may seem small in comparison-- there are, after all, more then 300,000 churches in America. But the ones going under tend to be large congregations, with vast sums of money. Take for example Robert Schuller's Crystal Cathedral, it declared bankruptcy earlier this year, with an estimated 50-million dollars in debt. Dan Busby, President of the Evangelical Counsel for Financial Accountability, said "when a church doesn't pay its bills, it sets a terrible example."