Bank May Soon Own Henderson Church
Posted May 11, 2005 8:10 a.m. EDT
HENDERSON, N.C. — Foreclosures happen all the time when businesses and individuals fail to repay their loans, but now a church is facing financial problems of its own.
At a recent courthouse auction, BB&T was the only bidder on Higher Faith Deliverance's building and one acre of land. Other bidders have 10 days to top BB&T's offer.
Pastor Eddie Wright hopes church members can raise the money even though membership rolls have shrunk to a few contributors.
"We are going to look at our options and see what we can do. We still want the church. It's a beautiful church," she said.
The church defaulted on more than $225,000 in loans from BB&T.
"They entered into a transaction with the bank where they signed a promissory note with the promise to pay," attorney Mike Satterwhite said.
Despite who will end up owning the property, Wright still considers it his church to pastor.
"If I'm not pastoring, we'll be some place. We're not going away," he said.
Wright not only serves as pastor of a church, he is also a member of the Vance County Board of Commissioners.