Who owns the property the church stands on? How does your church get paid for? Do the churches get loans from banks? Who builds the churches?

Please all Jehovah’s Witnesses don’t answer this. I have posted a question just for your religion previous to this you can find with this link:
http://answers.yahoo.com/question/index;_ylt=Ape4EqGzymMv0pqkWNvPsGfsy6IX;_ylv=3?qid=20080531060824AAQlyuy
This is for all the other religions.
I have also been calling different churches in this area and talking with the treasury depts. They are very helpful and informative and glad to answer my questions.
Some of the churches have volunteers to help with building or remodeling old buildings. They do contracting with professional builders also. The churches take out loans if needed from banks. All of them have building funds within the church to donate to. None so far have a main office that they get loans from so there haven’t been interest paid to a main office of their religion. Some have pledges like there was mention in some answers here. Not all. Nobody is fully committed to paying a pledge like a personal bill. If they can’t pay, they aren’t going to be sued for the money.

I’m looking forward to more answers here. And thank you for your answers as they are most helpful and informative.

How can we raise the money without having to borrow from the banks and loan offices? I need some Legal Fundraiser Ideas!

If you had any stock in CIT, (Commercial Investmant Trust), you LOST it all. CIT filed bankruptcy in Nov. 2009. Stock within that company became null and void … GONE! Stocks continued trading under the name, but new stocks were brought in as replacements. I find this all interesting because CIT really helped mainstreet America by keeping the revolving door of credit to all the mid-sized businesses in America … including popular national chains where we all shop all the time! WHY, I wonder, would Obama choose NOT to bail them out, when he bailed the likes of the fraudulent banks out? Could it be one more eye opener to the FACT that he is purposely trying to take down America? Wake up, folks, we have a storm brewing, and a big fight to Win with a country to save!!! God Bless!

In spite of having a top notch credit score for two decades, a strong self-employed job for two years next month, a two-income family, and a renter of half our building with the other half being rented in a month or two….I’ve been unable to find any local bank (or even a local "national" bank) willing to refinance so my sis and I can get away from an 8.5 per cent interest mortgage.

HERE’S MY QUESTION: are there ANY banks out there who are less stupid than the ones I’ve gone to and who ARE refinancing and WANT my money??? Can you name them to me? How can I find them without going through ALL the paperwork and time, only to be turned down over and over for one ridiculous reason after another?

PLEASE NOTE: I’m not asking why banks don’t refinance right now. I’ve heard those excuses. I’m just asking if ANY are refinancing commercial loans. lol .
I have no idea what the first answer below is talking about. I didn’t ask if I qualify for a commercial loan. I already HAVE a commercial loan. And getting a "straw buyer" seems like a poor idea. I’m just wanting to know if ANY banks are refinancing commercial loans for low-risk folks like myself, and HOW do I find them??

According to the nations largest commercial real estate firm, Marcus and Millichap, lenders are not liquidating distressed properties. Instead they are holding them and collecting the income until the market changes by paying management companies to run and improve the cash flow of the foreclosed businesses, shopping centers, apartments, etc.

All of a sudden banks are seriously in the commercial real estate business! They are not making new loans. Commercial loans and SBA loans are down somewhere like 95 percent this year!

Since banks made bad decisions to begin with why are they allowed to hold these assets instead of liquidate them like they should? A troubled bank should not be able to afford to hold these assets, let alone hire a management company. Are they able to afford it because of the bailout?

I am real estate salesperson for the commercial real estate industry and I’m upset because without loans, I have no business. Commercial sales in my office is down like 90 percent this year, and I work in an office with like 250 agents!

MIAMI – Like many home owners, hotels are starting to drown in debt.

They have been enticing travelers all year with sweet deals: credits for in-house spas and restaurants, up to 50 percent off five-star rooms, even free nights.

But all that discounting hasn’t stopped occupancy from dropping an average of 10 percent. The result? Hotel loans have begun falling into delinquency faster than any other kind of commercial real estate debt.

The rising defaults paint a grim picture for an industry with increasingly more rooms than guests, and more hotels still opening every day. It’s a problem that could get worse before it gets better, with demand expected to remain weak and ambitious new projects planned before the meltdown worsening the room glut.

The oversupply means room rates should stay low for at least another year, good news for consumers but not so great for hotel owners and the banks that lent them the cash to build or buy.

The rise in delinquencies is sharp. Five times more hotel loans are behind on payments this year than in 2008, according to mortgage data firm Trepp LLC, which tracks those traded by investors. In October, 8.7 percent were distressed, compared with 1.5 percent last year.

That’s almost double the 4.8 percent rate for commercial property and the 4.5 percent rate for stores.

I have good credit now and trying to use it to purchase a 4 unit apartment complex as an investment property. I have seen some banks still offering 100% financing. Is this something that some banks are still doing to keep afloat in these trying times? Also what is the minimum I will have to have down to purchase this complex since its considered a primary residence with an FHA loan?

First let me say that I DO NOT want to know how or pay you to obtain business credit without a personal guarantee!

I own a small business and I am incorporated, with an EIN and seperate business bank account. I am interested in possibly obtaining a business credit card, or a business line of credit. I was looking at some different banks/card and I notice the majority would like a personal guarantee. I have no problem with that, I just would like to know how it will affect my personal credit. Does the business credit card/line of credit show up on my personal credit report? Is there a hard inquiry when applying and/or giving my personal guarantee? If I apply for a business credit card/line of credit with a bank/credit card company that I currently have a personal credit card through does the business card affect that personal card? Any information would be great. Seems like all the info out there is about getting business credit without a personal guarantee, and paying for that info. Thanks!

I’m starting a business with a partner, we’re incorporating and planning on having 50/50 ownership. We’ll want to apply for a loan or credit line and banks will naturally be checking our credit histories. Here’s the issue: my credit history is good, perfectly clean, and improving. My business partner has some big credit card balances from starting the business, has missed some payments… his credit is bad. I’m thinking maybe I should be the 100% owner initially, so my partner’s credit doesn’t become an issue. Later on after we’ve established business credit we can change to 50/50 ownership. Does that sound like a good strategy?
Thanks for the comments re my partner’s credit issues. As background, he is great in retail, customer service, and started the business- currently owns it. Definitely needs help with the financial aspects, and I think the partnership will work well.

i am finding out it seems very hard to get a line of credit for a job today. does any one have any type of idea on how to get a line of credit for a job that has funds all ready allocated for the work. the funds are to cover labor and materials until a 45 day draw is released for the work. i use to just give the bank the contract and they would give me 100,000 no problem. do i need to look at banks in other country’s or what. is the American dream dead. please help

Hello and thanks for helping! I have had a hardship situation since May due to my small son carrying an infectious disease. I have had unexpected medical expenses and other related (diet, care, etc). I have never been late or missed mortgage payments. After being shut down for any options, like trying to get money out of my retirement account or try to refinance, I applied for a temporary loan modification with Wachovia. I called today after 3 months and they told me to update the financial documents. Now, in these 3 months, something else happened. My husband business partner decide to retire and asked him for ,000 to sell his part or he would go and sell it to someone else. We tried to get any commercial loans thru banks but they were denied (and we still have excellent credit). We ended up taking the money form our home equity line. My question is: What is the best way, if any, to document that new situation when updating my hardship letter and financial statements for Wachovia? Thanks a lot.

Im looking for applications to banks that offer a business line of credit of ,000 or more.

I am trying to obtain a business line of credit for me and some friends of mine. I have ran into a brick wall, and with everything that’s going on in the market now. I want to know if any one know what banks are still lending? Please no negative answers, I know that bank are still lending just need to find them. And NO BROKER’S!!! they will rape you on fee’s I am looking for a direct bank.

My Partners and I are providing capital investments needed for operating capital, décor and design, however, our corporation needs 0,000 financing to procure the building and existing equipment for the restaurant location selected. The financing is required to begin work on kitchen design, architectural plans, manuals and recipe books, additional equipment purchases, and to cover expenses in the first year of business. We are getting this building for a steal. Does anyone have recommendations on which company (no banks) I can work with? I live in Florida but willing to work with companies anywhere in the USA.

Already conducted due diligence. Business plan including performa available.
I am looking for advice or recommendations from those who may be familiar with commercial financing (either as a borrower or a lender). I know there will be some who just can’t resist being smart asses (but feel they HAVE to answer). I wish those nay sayers would pass on by and let those who have something intelligent/positive to say respond. I’ll appreciate that.

To those who have responded intelligently, thank you so much!

i have noticed, within the past 8 weeks, new tv commercials that project a sort of what i shall call creeping acceptance of the "hard times" by families that sure as heck do not look like they will lose their jobs or houses! you see little children talking about how the family must work together to cut back on spending on their vacations, their meals out, their outtings to movies and so forth, in order that the "essentials" of life are paid for. in one commercial, the essential mentioned is the little girl’s diabetic testing strips. hummm…

it seems to me that these commercials project a complacent acceptance by the public at large of the current recovery scheme (with fiat federal reserve approved and printed dollars) plan and bailouts to the banks so that they feel that they are politically correct for the times.

these tv commercials seem to say to me that families that are NOT (the people in that house sure don’t look like they are having any financial problems) experiencing loss of jobs should tighten their belts with the rest of us poor souls, namely, not spending their money, when their spending money in the economy would be one of the ways to get out of this mess.

i approve of saving money–this should have been done by those people that gave themselves the american way using credit cards and second mortgages, but i do not agree that when you have no threat of a loss of work or your house going into foreclosure that you really need to cut back on spending because if we do not spend money, then the domino effect is in fact worsened and then there is political reason to spend fantastic sums of money that we DO NOT HAVE for the recovery act (those funds will not be disbursed until 2010, btw).

president obama’s current proposition for financial recovery is to spend 9 TRILLION dollars, which will be comprised of future debt that our children and their children will have to be taxed on to make it up, and i heard, but cannot now confirm, that obama has plans to introduce the second economic recovery act, before these non-existent dollars are disbursed! what is he doing?

what do you think about the popularity of making brown paper bag lunches and waiting for the good movies to come onto dvd instead of going out to eat and paying for entertainment, when you really can pay for it without suffering?

do you think that this projection of the "bad times" for all of us (when it is not bad for all of us) may lead to an acceptance of socialism, namely, the redistribution of YOUR money to those that have less? i.e., do you think that these tv commercials will sway the public to the point that they mindlessly go about their lives as their money is stripped away from them, for the betterment of other citizens/the buildup of ever more federal government programs? (earmarks…)

if you have also seen the commercials i am talking about, please give me your full opinion of them and tell me why you think they are good for the general public, or bad for it.

do you think that we are being sold down the river? why?

you that know me know that i like you to back your opinion up and to argue it. i do not mind if you feel differently from me and certainly will not give a thumbs down to you if you differ with me, but i want to know why. i also love when you include demographic material, such as age, area where you live, what job you do, your family size, and so on.
ORGANISM: the democrat-controlled and democrat-funding teachers unions are responsible for the poor education our schools provide.

A month ago we were able to quote commercial mortgages with excellent credit in the mid 5’s low 6’s, even though treasuries have actually dropped since then, money has gotten much scarcer so banks are charging more to borrowers, simple supply and demand. Rates have actually gone to the mid-high 6s to the low 7s on good credit now. That is what the market is yielding. I know that most of our loans are commercial jumbo, but that the lack of money is going to trickle down and affect the residential lending markets and even though rates and treasuries are going to drop in the future, lending rates are going to go up, again…all about supply and demand.

So let’s look at how we got here:

ILLUSIONS

Big part of what makes the American Dream is hope. However unrealistic, uneducated, and misinformed choices replace hope with illusions.

Buyers had the illusion that homes would always keep increasing rapidly in value. However, they failed to understand that the real estate market has cycles. Some of the factors that create a change in the market are increased amounts of supply or demand, deregulation of the financial industry, easy and available credit, low interest rates and much more.

People who bought homes they could not afford did it because they saw an opportunity to “invest” their life savings and achieve the American dream. They viewed this opportunity as attainable because banks made it possible, unscrupulous agents/brokers made them believe it was possible, and because they lacked the knowledge necessary to understand the responsibilities, risks and benefits of owning a home.

Other illusions buyers had was their wages. The had the illusion that their wages would go up enough year after year to cover their ever increasing debt due to a lavish life style. This illusion, the lack of financial education and self-control allowed for people to live well beyond their means.

Today people, banks, and our government are drowning in debt.

CREDIT

Competition in the market forces business to improve on their products and allows the consumer to purchase those products at affordable prices. However, competition between banks in a booming economy and low interest rates created a credit bonanza.

Instead of banks improving on their products and services, they began utilizing creative financial tools to attract more borrowers. They also lend money to risky borrowers with little regard of their qualifications. Anybody that had a pulse could literally get a loan.

Banks can’t accommodate the demand for credit only with their money reserves. So if they want to lend more money, they sell these mortgages to commercial banks and Wall Street lenders.

Financial Crisis: Who’s Fault Is It, Anyway?

Doesn’t matter.

Because just about everyone is to blame.

Republicans opened the door through debt-based credit derivatives and deregulation. Democrats further contributed by turning a blind eye to Fannie and Freddie and insisting that even those who couldn’t really afford mortgages be allowed to get them. The Bush Administration touted consumer spending as a means to boost the economy, and encouraged reckless consumer behaviors with billions in "stimulus"money, all while fueling the national debt through a disastrous war and tax cuts for people who don’t really need them.

And, of course, greedy banks and mortgage lenders went along, doing their best to bilk whoever came through door for whatever they could get — before passing the risk on to equally greedy investment banks and hedge fund managers. Consumers came along for the ride, abandoning reasonable financial practices and using credit to fuel materialism — as well as making poor decisions by buying homes they couldn’t afford with "creative" mortgage financing.

Nearly everyone shares some of the blame. This is not the time to bicker over who is most at fault. It doesn’t matter. The past is past. It’s time to move forward and fix the problem. REALLY fix the problem. With practical solutions (that’s right, follow the link for just one alternative — and better IMO — solution) that don’t involve throwing a large, arbitrary amount of money at the problem.

This is something that requires measured thought. And a change in how our society now views debt, money and the economy. There’s no reason to rush into a bailout plan right now. Instead, a little more analysis is needed.

I want to boy “stratus” franchise plan it’s commercial cleaning business I need 20-30$ for start I would barrow or would get some kind of personal loan but my credit score is 670 and I have no property no one want to give me money I would pay 15-18 % but……… maybe you know some banks or organizations, sagest me how to get out from this situation thanks so much SOS

We are in need of ,000 – ,000 for working capitol for our 14 year old business. Are banks doing business lines of credit?

I own a 40’ X 60’ X 15’ concrete building for personal use, to storage my RV. I would like to know what personal loan programs, including terms and rates, are available if I use this property as collateral? Would the terms and rates be similar if (I were to use my personal residence as collateral? (Equity loan).
I want this loan to be an equity loan, not a commercial loan.
PLEASE I NEED ANSWERS FROM LOAN OFFICERS ONLY.
THANK YOU VERY MUCH
I already talk to some officers, but I want more opinions from other banks

My Partners and I are providing capital investments needed for operating capital, décor and design, however, our corporation needs 0,000 financing to procure the building and existing equipment for the restaurant location selected. The financing is required to begin work on kitchen design, architectural plans, manuals and recipe books, additional equipment purchases, and to cover expenses in the first year of business. We are getting this building for a steal. Does anyone have recommendations on which company (no banks) I can work with? I live in Florida but willing to work with companies anywhere in the USA.

Already conducted due diligence. Business plan including performa available.

I am looking for a hard money loan to purchase inventory and to rent a kiosk in the mall for the holidays for my business. I have tried the banks and they say my credit score isn’t high enough or they would like to see more cash flow. I have high margin inventory as much as 80% profit margin, so I can turn the inventory quickly. Just looking for a company that will lend the money quickly. Please only legitimate answers.

I am a licensed commercial real estate agent in phoenix, az, and am interested in providing insurance and mortgage services to my clients,essentially I want to be able to shop 5 lenders/insurance companies to provide my clients the best deals.

How do I identify 5 banks/insurance companies that do commercial transactions?

How much money can I make by providing these additional services assuming that all transactions are more than 300K ( for loans + insurance)

Thanks

I am a licensed commercial real estate agent in phoenix, az, and am interested in providing insurance and mortgage services to my clients,essentially I want to be able to shop 5 lenders/insurance companies to provide my clients the best deals.

How do I identify 5 banks/insurance companies that do commercial transactions?

How much money can I make by providing these additional services assuming that all transactions are more than 300K ( for loans + insurance)

Thanks

My sister and I own a commercial building–the business we ran inside went bust thanks to the lousy economy. The building has been up for sale for many months with NO bites. We’ve lowered and lowered it. No one is buying–small town.

My sis and I both work, but this is still financially hard on both of us to keep paying on this building. Mortgage lender has changed our loan to a balloon mortgage, interest only (which saves us several hundred dollars a month), but if I sign it, we have one year & then have to come up with the entire principal, and he said there is NO guarantee they will renew it.

There is NO way we can pay it off in a year. So all this makes me wonder if we should just call it quits, keep what little we have left in our savings, stop working so hard to keep up on the mortgage. Our houses are NOT the collateral–the building is.

Sure, I know we’ll lose both of our top credit standings, but…..this is the pits, and it looks like we could lose it anyway in a year if we sign the new mortgage…..

What else would we face if we stop paying? Is it possible that it’s worth it?? Any other comments for us to think about?
Ananamas, yes, I did like your questions, but wasn’t sure how to implement them. For example, how do I find the kind of businesses who don’t have to be physically present? How do I contact them? That seemed daunting. Also, I think the city council requires that buildings on our block be a retail for customer to walk into.

As far as leasing it, we had some bites, but they ALL wanted to pay FAR less than our mortgage!! Very frustrating. People are low-balling.

Networking with local banks and Chamber about new businesses coming in or expanding–not sure either is happening in this community. No, we’re not in a dead community at all. It’s just the "economy{ thing…..

I’m still very interesting in all your ideas. Just not sure how to make them work. This is maddening.

I’m looking to open a business line of credit and was wondering which banks I should target. I live in South Eastern Michigan.

I just read the entire text of President Bush’s address last night and I grade his effort "D" at best. He did not make the case that needs making.

Here’s the real skinny and what I think President Bush should have said and one —

My Fellow Americans:

The annual yield on treasury bills fell yesterday to 44 basis points. at times yesterday, it was negative. This shows that companies and people with more money than FDIC insurance covers aren’t willing to deposit it at the banks, nor are they willing to buy commercial paper with it.

Without funds from deposits or commercial paper, the banks don’t have the money to make ordinary loans to their regular customers, even if the regular customer’s credit is good. I’m thinking of the local grocery store that borrows on Friday to pay their employees and repays the bank each Monday from the weekend’s receipts.

Without funds available to the banks, they can’t make even good loans to regular customers.

Many people think the bank’s executives and managers should be fired for making all these bad mortgage loans and thus they want to deny this bailout program until the banks are being run better.

America does not have the time to wait for that to happen.

Booting the bank managers would require us to let the banks fail first. It is illegal to simply take over the banks unless and until they stop functioning.

If the banks stop functioning, America’s payments mechanism would stop.

That means that your credit cards, your debit card, and your atm card would not work. No one would take your check because they couldn’t know if your bank will be able to pay it tomorrow.

If that happened, you would not be able to buy groceries or gas or anything unless you had actual cash. This would cause the total volume of sales to plunge, perhaps to only 1/3rd or less of regular levels.

And then employees would be laid off, and every business that couldn’t withstand a huge decline in sales would go bankrupt.

If you and your extended family has four workers in all, I’m talking about one of them losing his job and a second being told her wages are now 1/3rd less than what they were, or she loses her job too.

This is what we must prevent — America’s payments mechanism must continue to operate.

If this means that we have to accept that some executives and managers who deserve to lose their jobs get to keep them because they are also the payments mechanism, that is a price we simply have to pay.

Loans whose value is unknown must be reduced to less than the amount of capital each and every bank has on hand. Since the financial markets have already shown that they will not provide more capital to the banks, someone has to remove the questionable loans from the banks’ assets.

This is what the program my administration has proposed will do.

And the only entity with enough size to do that for the entire economy is the Federal government.

To make sure there is enough time for Congress to act, I have asked the Securities and Exchange Commission and Federal Reserve to immediately declare a banking holiday. They have agreed to do this.

All banks, stock markets, futures markets, stock brokerages, and similar enterprises all across America will be closed tomorrow. They’ll stay closed until Congress acts.

It is very likely that your credit cards will not work tomorrow. Your debit cards and atm cards probably will not work either. And stores may refuse to take your check.

Banks and markets will re-open when there is reasonable assurance for their depositors and ordinary creditors that these weak assets will not cause the banks to fail and take away their deposits and short term lendings.

Our prayers are with America tonight and every night,

thank you and good night.

***
Well, that’s what I think the President should have said and done –

what’s your opinion?
I started working in banking in 1970. along the way, I earned MBA and CPA. I’ve seen economic booms and busts related to real estate lending since my first bust in 1973.

This is by far the worst situation since then.

I’ve been a commercial real estate agent for 5 years now and for the first 4 years it was going fine. However, as many of you know, commercial real estate loans are going bad, and along with it, many banks are not lending. My brokerage is a very specialized brokerage. It is a car wash brokerage. Many commercial real estate brokers specialize in hotels, office buildings, apartments, etc. My business partner and I specialize in car washes. Unfortunately for us, most banks will not lend money on a car wash. They are still much more lenient on apartments, hotels, offices, but car washes have been very very bad investments for banks coming out of the real estate boom. As a result, I do not see my brokerage doing ANY deals this year, or in the near future. In the meantime I’m running out of cash and fast.What should I do? Since I’m technically self employed I have plenty of time to search for a job, but the reality is that if I was truly serious about leaving this career now, I would simply quit and start a new career asap. I’m 29 years old and started doing this right out of college. I feel confident that I can take a pay cut and start a new career somewhere else. At this point it seems almost inevitable that I’m going to have quit soon. My question, therefore, is does it make a difference if I search for a job only part time, or should I quit now and put all my effort into finding a job now while I still can afford to pay rent, and still have some money in the bank? 10 pts for best answer.
Well I’d like to continue doing something in the real estate world, but I don’t have time to just limit it to real estate so I’m applying to all kinds of jobs. I’m in Los Angeles so jobs are far and few. If all else fails I’m thinking of joining the Navy as an Officer.

Serious answers…
10 points best answer.

I’m in my early 20s, and I’ve always wanted to be a real estate agent. I kmow someone who does it part time, but we live in New York State. Even though the economy is bad and is affecting the real estate market, isn’t a good time to get in the business if there are so many foreclosures? Because of buying homes cheaper than the orignal price? But, then again the banks aren’t giving out a lot of loans…Is there anything that is prospering related to real estate right now? Probably commercial real estate, but I would have to college for it, right? I went for Business, and Marketing. So, I don’t think I would be able…

Are there locations in the United States that are doing better in real estate? People still need homes in this economy. And what other things could I do related to being an agent, that will help me still be able to sell and buy homes??? I need some ideas…

THANKS FOR YOUR HELP!!!

Once I rennovate it will have rentable apts, and a store. What is the best type of loan to get for such an endeavor? Would a home equity loan be the right one to seek? My credit score is a little above 700. What banks are easiest to obtain loans from?