In almost all communities, we see a lot of architectural structures. There are a lot of them like corporate buildings, condominiums, churches and many more. Among these, we value our churches just as we do to our own homes.
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.
Unfortunately, only a few knows about this these days. They have known that a tabernacle is a structure for worship gatherings. But in addition to this, it also has a good side. It also compliments what God impressed to Paul, that everyone should regularly meet each other in fellowship. And because of it, building it is what is thought to be its support. Each of these things maintain our faith & give encouragements to one another.
So, people desired to have their own worship place. They called it after how believers were called, church. Many challenges came. The people needed enough money to build it. They started collecting any voluntary donations. But most of the time, their money cannot reach the amount they need. So, these lenders came in the picture and began introducing to the congregation, the concept of mortgages.
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.
Unfortunately, only a few knows about this these days. They have known that a tabernacle is a structure for worship gatherings. But in addition to this, it also has a good side. It also compliments what God impressed to Paul, that everyone should regularly meet each other in fellowship. And because of it, building it is what is thought to be its support. Each of these things maintain our faith & give encouragements to one another.
So, people desired to have their own worship place. They called it after how believers were called, church. Many challenges came. The people needed enough money to build it. They started collecting any voluntary donations. But most of the time, their money cannot reach the amount they need. So, these lenders came in the picture and began introducing to the congregation, the concept of mortgages.
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You can get a brief summary of the advantages you get when you take out church mortgages at http://www.genesisgroupinc.com right now.