Even Churches Aren't Immune from Foreclosure

U.S. homes entering the foreclosure process hit a seven-month high in October. Some 77,733 properties received an initial default notice during the month, up 10 percent from September, according to foreclosure listing firm RealtyTrac Inc.

But homeowners aren't the only ones being hit by foreclosure. Church foreclosures are at an all-time high. Since 2008 more than 200 churches and other religious organizations have faced foreclosure, according to real estate services firm CoStar Group. In the decade before 2008, church foreclosures were rare, averaging less than 10 per year.