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Churches Facing Lis Pendens Foreclosures Get Reprieve



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By : John Cutts    99 or more times read
Lis pendens foreclosures have been hitting several church properties in Atlanta, Georgia, in the past few months. However, eviction of some of the local congregations has been put on hold. One example is the Atlanta Urban Foursquare Church, which has been having problems in paying its monthly rent.

According to local real estate reports, around 50 church properties have been lost to foreclosure auctions in Atlanta, while a total of 90 churches have been under some stage of foreclosure during 2006-2010. Meanwhile, the past few months saw another handful of churches facing financial problems and are in danger of getting foreclosed. For Atlanta Urban, the problem is not actually foreclosure, but lack of funds to meet its monthly rent obligations.

The number of residential properties getting lost to foreclosure home auctions in Georgia has increased in the past few months and several churches have also joined these troubled homeowners. In the case of Atlanta Urban, the church was not able to meet its rental obligations after a grant ended and funds provided by the grant ran out. But the church is getting some temporary reprieve as an immediate eviction order has been taken back.

The church, which has been spared from lis pendens foreclosures experienced by other churches, was earlier told that the building should be vacated immediately, but the congregation was later given the chance to vacate the premises on its own. According to local reports, the church was saved from an immediate eviction by more than 50 children. The kids were reportedly in the building to participate in a child program when officials from the Fulton County Marshal's Department arrived to execute the eviction order.

The problem faced by the church is partly associated with the rising unemployment level of the metro area. As unemployment grows, the number of foreclosure houses at auction increases and churches suffer the same fate since a big percentage of their funds come from donations and pledges from church members.

Reports showed that the church has been unable to pay its rent for the past eight months as funding has dried up. Atlanta Urban is just one of the churches in the area facing financial troubles, with majority losing their buildings to lis pendens foreclosures.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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