I know this has been discussed, but I think it's good that topics like this get brought back up from time to time for the sake of newbies and lurkers, plus, I have a question (related at end of post).
The org brags about "forgiving" KH mortgages as if it's so loving and giving. I put the word in quotation marks because most of us realize it wasn't forgiving anything. The new arrangement should actually bring it far more money.
For example, suppose there are twenty congregations total. Five have mortgages that will be paid off in ten years. So the org has coming in ten years of payments from five congregations. Then it cancels the mortgages, but requests the congregations that had mortgages to make donations close to the amounts of the former mortgage payments each month from now on - not just the next ten years. Also, it requests the fifteen congregations that didn't have mortgages to make donations each month from now on. So now, instead of five congregations making payments for ten years, the org has twenty congregations making payments in perpetuity.
The org definitely seems to be benefitting greatly from its kind "forgiving". My question, though. is what is it that moved the org to make this change? It seems that I remember its being mentioned on a past thread that some kind of lending law changed (or something like that) that would make it illegal for the org to loan money the way it was. Can somebody address that question, please?
Again, was it some kind of lending law change or something like that that prompted or forced the org to "forgive" loans?