Evangelical Christian CU Embroiled in Five-Year Church Foreclosure Fight
In a case going back to 2008, Evangelical Christian Credit Union has entered another round of foreclosure proceedings against one of Florida’s largest churches.
The Lakeland, Fla.-based Without Walls International Church initially went into foreclosure in 2008 owing Evangelical Christian CU $13.9 million, which was due in September 2012, the Ledger.com reported. In 2009, it approved a mortgage modification for the church.
The $1.1 billion Evangelical Christian in Brea, Calif., then moved forward with its foreclosure proceedings against the church last October. After filing a request for documents on May 21, a hearing is set to take place in September.
Meanwhile, Without Walls filed a complaint last October against Evangelical Christian seeking more than $23.8 million with claims that the credit union acted inappropriately towards the church’s founder, Randy White, by allowing his ex-wife, Paula White, to take more than $2 million worth of video and music equipment from the church to use for her own ministry, according to the Ledger.com.
Paula White was apparently hired as senior pastor at a church in Orlando, the Ledger.com said.
Without Walls’ complaint also said Evangelical Christian allegedly made false statements about the church in order to thwart a deal initiated by Randy White to sell the property.
According to real estate filings, Without Walls is currently up for sale with an asking price of $14.75 million, the Ledger.com reported. The property, which has 63 acres and houses the 9,600-seat church, was initially bought in 2005 for $8 million.
A comment from Evangelical Christian was not immediately available.
In 2012, the credit union’s business lending program was ranked among the top 10 in the country.