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Joel Osteen sobs as he reveals Lakewood has lastly paid off $100m financial institution mortgage

Joel Osteen sobs as he reveals Lakewood has lastly paid off $100m financial institution mortgage


Joel Osteen along with his spouse Victoria sobs as he declares that Lakewood Church is “out of debt”(Photo: YouTube/Lakewood)

Pastor Joel Osteen was in tears on Sunday as he introduced that his Houston-based megachurch, Lakewood, is “out of debt” after lastly clearing a large mortgage from the Bank of America. 

The church took out the $100m mortgage 20 years in the past to show what was then the Compaq Center basketball area right into a fully-funcitioning church with all the required amenities. 

Osteen welled up on stage as he seemed again over the past 20 years and remembered how various things have been within the early days: “You know, it was a basketball area, such as you noticed. But, you understand, beneath these bleachers [there were] service areas and locker rooms and the place they serve meals. It wasn’t public areas.

“We wanted nurseries, and we wanted youngsters’s amenities. We wanted much more issues.”

Back then, the church paid $11.5 million to lease the world for 60 years. When Osteen invited bids from contractors to hold out the renovations, he remembered being stunned by the estimates.

“I obtained the invoice again for the bids, and it was $100 million to renovate. And I assumed, type of, God, I did not join this. I used to be 36 years outdated. And I assumed, however you understand what, God provides you grace for each season of your life,” Osteen stated.

At one level, it seemed just like the mortgage won’t occur as a result of the financial institution that the church had been banking with for years because the days of his late father, John Osteen, refused to lend Lakewood the $100m. But one thing fully surprising occurred.

“Let me let you know, y’all, they have been so detrimental. They have been identical to, ‘Man, it isn’t gonna occur. We do not suppose you may increase the cash’ and all these things. And man, we walked out of there and I used to be discouraged at first till I let it go in a single ear and out the opposite,” Osteen stated.

“I assumed, God, our financial institution shouldn’t be our supply. You are our supply. And so we went to a different financial institution, Bank of America. They confirmed up on the workplace, the primary day we have been there with out even realizing us, they’d by no means seen our financials, that they had a verify for $25 million {dollars}.

“I noticed that 25 million, I stated, ‘You’ll allow us to borrow 25, would you allow us to borrow $100 million? They stated we’ll do it. Bank of America loaned us $100 million.” 

Lakewood has already owned the constructing outright for over a decade after buying it for $7m in 2010. Osteen stated that the $100m mortgage for the renovations was paid off on 31 December 2023.

“What God’s completed for Lakewood He’s gonna do in your life,” he informed the congregation.

“I imagine in 2024 you will see God launch you from some issues which have held you again. Release you from debt, launch you from dependancy, relationship, from mistaken mindsets. I simply imagine [this will be] a yr of launch.”



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