 |
| Pastor Steve Munsey |
“Pastor Steve
Munsey’s Family Christian Center won’t regain control of its own finances for
at least six months, according to an agreement approved Friday in Lake Superior
Court. Lake Superior Court Judge Diane Kavadias Schneider signed off on the
agreement between officials from the megachurch and Evangelical Christian
Credit Union, all of whom agreed the church’s financial operations will
continue to be handled by an appointed financial administrator until September.
After six months, officials from the California-based credit union and church
told the judge they will consider signing a loan modification agreement.”
“Evangelical Christian Credit Union filed a foreclosure case against
Family Christian Center in 2011 after the church defaulted on the mortgage for
its worship center at 340 W. 45th St. in Munster, Lake Superior Court records
show. A Times investigation published Sunday revealed Family Christian Center
had been spending millions of dollars annually on leadership compensation,
travel, meals and jet fuel, yet fell behind on its mortgage payments and racked
up a list of past-due bills, according to records from the county and Lake
Superior Court. At the time Evangelical Christian Credit Union filed its
foreclosure case, Family Christian Center had been bringing in about $10
million per year and had a $98,000 monthly mortgage payment, a transcript of a
Dec. 4 court hearing states. The church now brings in about $7.3 million and
has a $72,000 monthly mortgage payment, the transcript shows.”
Read report from CBN
No comments:
Post a Comment