Pastor Joel Osteen of Lakewood Church in Houston, Texas just lately made an emotional announcement that the church paid off a $100 million mortgage final week.
“It's due to your faithfulness,” Osteen informed his congregation, in accordance with The Houston Chronicle. “You may have repaid it by the goodness of God.”
As CBN Information experiences, the church has repaid a $100 million mortgage from Financial institution of America that was first taken out practically 20 years in the past.
“I look again on these 19 years they usually had been nice years. I imply, Lakewood was a beacon to the world. And it was fascinating once we bought that facility. You already know, it was a basketball enviornment like these However you recognize, beneath these bleachers, the attendants areas and locker rooms and the place meals is served, these weren’t public areas,” Osteen stated. “We wanted daycare and we would have liked services for kids. We wanted much more stuff.”
A significant church pastor defined that the church initially leased the power for 60 years in 2001 for $11.5 million. A number of years later, Osteen sought bids to renovate the church, together with an indoor stage, redesigning the outside facade, and changing the dressing rooms and eating rooms with childcare and assembly rooms.
Lakewood Church additionally had plans to construct a five-story constructing subsequent to the sector, in accordance with The Chronicle.
“I bought the bid invoice again and it was $100 million in renovations. And I type of thought, 'Gosh, I didn't join this.' I used to be 36 years outdated and I believed, however you recognize what, God offers you grace for each season of your life,” Osteen stated with a smile.
At one level, Osteen went to the financial institution the place he and his late father, John Osteen, had accounts for years to attempt to safe loans. Nevertheless, the financial institution rejected them.
“I'll inform you, all of you, they had been so destructive. They had been identical to, 'Man, it's not going to occur. We don't suppose you will get the cash and all that stuff.' And man, we walked out of there and I used to be postpone at first till I let it exit one ear and out the opposite,” Osteen stated.
Lakewood subsequently tried to safe a mortgage by way of Financial institution of America.
“The primary day we had been there with out understanding us. They by no means noticed our funds. That they had a verify for $25 million that they stated we might borrow,” stated an emotional Osteen.
“I noticed the $25 million, I stated, 'You all allow us to borrow $25 million, allow us to borrow $100 million?' They stated, 'We'll do it.' Financial institution of America loaned us $100 million,” he continued.
“So my large announcement right now is that as of December thirty first of final 12 months, we formally paid off our $100 million mortgage,” Osteen stated, tearing up once more as the group cheered and gave a standing ovation.
Osteen famous that previously 20 years of paying off the loans, the church has by no means lowered its outreach.
“We’ve got spent lots of of thousands and thousands of {dollars} on media and humanitarian assist [aid]and assist individuals all around the world,” he stated.
Though the church is now “debt free,” Osteen stated there’s nonetheless much less debt on capital tools.
“What God did for Lakewood, He’ll do in your life,” he stated, shifting into his message. “I imagine that in 2024 you will notice God free you from among the issues which have been holding you again. Free you from debt. Free you from dependancy. Free you from unhealthy mindsets. I solely imagine in a 12 months of liberation. A 12 months of God's righteous goodness in new methods. “
Picture credit score: ©Getty Pictures/Bonnie Biess/Stringer
Milton Quintanilla is a contract author and content material creator. He’s a contributor to Christian Headlines and host of the For Your Soul Podcast, a podcast dedicated to sound doctrine and biblical fact. He holds a Masters of Divinity from Alliance Theological Seminary.
