Many of us know what are churches for. Perhaps, you may be one of the million people who spends time every Sabbath day at church. Many thought these structures are holy possession of the Creator.
Thousands of believers remained unfortunate because they do not have any permanent place to go for their daily worship. There are countless reasons. Not having their own temple is one of them. The building process is very doable but the financial matters that it needs is quite crucial. There are many who suggested us to have some church mortgages. But we know so little about them. Here are that follows that can educate you even more.
Here is the tricky part. Most people are confused between loans and mortgages. Let us take a little closer study about them. You see, loan is the relationship and the processes wherein the creditors and the debtors are involved with. Otherwise, it is their money transaction.
Let us know about loans and mortgages. Both of them have different meanings. Yet they exist on the same world. Loans are the transactions you make. This happens when one borrows money and has agreed to pay on a certain date. Mortgage is a kind of a loan allowing someone to borrow a certain amount of money in connection to the possession of a specific real estate property. It involves an auxiliary counterpart on both parties.
Moreover, there are various kinds of loans. There are these basic types that we can discover about. Let us learn more of the information that are as follows.
Open vs Close ended loans. The two has only a slight difference. Open end credits is commonly known as the revolving credit. A perfect example to this is the credit card. Not unless if you have requested not to have an indefinite credit limit, you will owe what you have bought through borrowing the money from your bank. The other one is the secured vs unsecured. Secured loaning is common to most debtors. It is known with the term, collateral loan. This has to do with the transaction you are making and the property you are putting in the line. Most lenders do this to be secured. It will be effective when the borrower fails to pay the amount lent according to what was agreed on.
Now that you understand these things, you might have the picture in mind of what is the situation about these mortgages. Before, these kind of undertakings are not known. Churches used to be independent and is built by its members accordingly. However, as the bible tells us, a Church is not the building but the believer himself. It is because the divine power of God through Christ is built in our hearts that made us his temple.
Decades passed, the biblical meaning of it were used to name after the structure people made to become a place for their worship gathering. Just as God told Paul, that every believer should be in constant meeting with his fellow believers doing all sorts of fellowship in the verge of keeping each other encouraged. This concept is what the people used to build them.
As a result to this, they built them everywhere. But some new congregations are incapable of raising the amount needed for these tabernacles. It caused worries to their members. Luckily, the lending world introduced to us the concept of loaning. They taught us about these mortgages and how it works. This idea has survived through the years. It is still existent until to our present days.
Thousands of believers remained unfortunate because they do not have any permanent place to go for their daily worship. There are countless reasons. Not having their own temple is one of them. The building process is very doable but the financial matters that it needs is quite crucial. There are many who suggested us to have some church mortgages. But we know so little about them. Here are that follows that can educate you even more.
Here is the tricky part. Most people are confused between loans and mortgages. Let us take a little closer study about them. You see, loan is the relationship and the processes wherein the creditors and the debtors are involved with. Otherwise, it is their money transaction.
Let us know about loans and mortgages. Both of them have different meanings. Yet they exist on the same world. Loans are the transactions you make. This happens when one borrows money and has agreed to pay on a certain date. Mortgage is a kind of a loan allowing someone to borrow a certain amount of money in connection to the possession of a specific real estate property. It involves an auxiliary counterpart on both parties.
Moreover, there are various kinds of loans. There are these basic types that we can discover about. Let us learn more of the information that are as follows.
Open vs Close ended loans. The two has only a slight difference. Open end credits is commonly known as the revolving credit. A perfect example to this is the credit card. Not unless if you have requested not to have an indefinite credit limit, you will owe what you have bought through borrowing the money from your bank. The other one is the secured vs unsecured. Secured loaning is common to most debtors. It is known with the term, collateral loan. This has to do with the transaction you are making and the property you are putting in the line. Most lenders do this to be secured. It will be effective when the borrower fails to pay the amount lent according to what was agreed on.
Now that you understand these things, you might have the picture in mind of what is the situation about these mortgages. Before, these kind of undertakings are not known. Churches used to be independent and is built by its members accordingly. However, as the bible tells us, a Church is not the building but the believer himself. It is because the divine power of God through Christ is built in our hearts that made us his temple.
Decades passed, the biblical meaning of it were used to name after the structure people made to become a place for their worship gathering. Just as God told Paul, that every believer should be in constant meeting with his fellow believers doing all sorts of fellowship in the verge of keeping each other encouraged. This concept is what the people used to build them.
As a result to this, they built them everywhere. But some new congregations are incapable of raising the amount needed for these tabernacles. It caused worries to their members. Luckily, the lending world introduced to us the concept of loaning. They taught us about these mortgages and how it works. This idea has survived through the years. It is still existent until to our present days.
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