United States

Banks foreclosing on churches in record numbers


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Reverend Gregory G. Groover is pictured sits for a portrait inside the Charles St. AME Church in the Roxbury neighborhood of Boston, Massachusetts March 7, 2012. The church is being threatened with foreclosure and a March 22 auction by its lender OneUnited bank, America's largest black-owned bank. The bank says the church, which was founded in 1818 and played a major role in the anti-slavery movement, has defaulted on a $1.1 million balloon loan that came due in December 2011. Groover said the church did not default by missing monthly payments, but is in trouble because the loan ballooned. REUTERS/Brian Snyder