At our Church Business Meeting on August 4, Church Council Chairman Bill Batchelor reported that the loan modification and line of credit that had been recommended by the Church Council and approved by the church was completed with the bank on July 15. We paid down our mortgage from $120,000 to $70,000 using the $21,000 we raised in our Pay Down the Mortgage Campaign and $29,000 from savings. As a result, our monthly mortgage payment has gone from $3,000 down to $926.26.
We secured a line of credit with the bank in the amount of $25,000. We will, of course, only draw on it in case of an emergency.
Here is our great hope: Now that our mortgage payments are greatly reduced we will be able to pay our bills each month without ever having to withdraw any money from our savings account. Please keep your tithes and offerings flowing. We depend on your faithful giving to be able to get our ministry done. As we all give to God regularly and proportionately of our income, we will be able to accelerate our payments on our loan and pay it off early.
Fleda and I give a tenth of our income to God through New Hope. That is our long-standing commitment. We want New Hope to be a strong church with a bright future.
God blesses the investments we make in his work. As that great church starter Paul wrote to the churches in Corinth, “Those who sow sparingly will reap sparingly. Those who sow generously will reap generously.” Trust those words of the Bible. Give as God has blessed you. Give a tenth of your income and trust God to make our church grow strong in getting the message of Christ into people’s hearts.
May God make us a healthy, growing church.
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