Another Church Foreclosure For Evangelical Christian CU
MEMPHIS, Tenn. – Evangelical Christian CU this week filed a foreclosure notice against Greater Hope Baptist Church, the latest in a string of church foreclosures plaguing the nation’s faith-based lender.
The foreclosure notice for Greater Hope Baptist says the church defaulted on a $1.4 million loan from 2004.
Last month the $1 billion California credit union filed foreclosure papers on Love Christian Center in East Spencer, N.C.
Evangelical Christian, one of the biggest church lenders in the country, has foreclosed on 20 churches over the past three years after having just two foreclosures in its prior history.