Mortgage Reduction Report

As we prepare to discuss the 2009 budget at the Administration team meeting, the outlook for paying off our building loan is late 2009 or early 2010.

We were able to pay more on the loan during 2008 because of a special offering given to the Tatesbrook by the River of Life. This special offering was not stipulated but they gave it after prayerfully considering that God had led them to help us get out of debt as long as we were meeting the rest of our budget. We are grateful to the River of Life and were able to apply all of that offering to the debt.

A second reason that we were able to recover from the trend of making the minimum payments that we started in 2007 was to have lower building repair and utility costs without any heavy users of the building.