Without Walls Avoids Foreclosure

by | Mar 11, 2009 | Charisma Archive

altMarch 11, 2009 — Without Walls International Church recently dodged the threat of foreclosure thanks to a revised deal that converts the payments on the Tampa, Fla., church to interest-only loans, the St. Petersburg Times reported.

“I’m very, very delighted,” White told reporters last week. “It was a great victory for our church and for our people that we don’t have that pressure under us like we did have before.”

In November, the California-based Evangelical Christian Credit Union began foreclosure proceedings against Without Walls after it said the church defaulted on a $1 million loan.

White said Without Walls had never missed a loan payment in nearly eight yeas and accused the Christian credit union of wanting to sell the church property for a profit to avoid failing itself.

Credit union officials denied that claim, saying they had negotiated with Without Walls for months before taking legal action.

White said the negotiations fell through when the credit union sought control of the church’s intellectual properties, including its ministry tapes and books.

The church refused to accept the loan modifications and was soon facing foreclosure of both the Tampa site and the Lakeland, Fla., branch, which is the former Carpenter’s Home Church. Without Walls owes $13 million on its Tampa property and $12.5 million on the Lakeland site, the Times reported.

White said he was likely wrong about the credit union wanting to sell the church because it did not approach a developer who was interested in buying the Tampa property.

Under the revised loan, the Tampa church would pay about $59,000 a month, while the Lakeland property would continue to pay roughly $70,000 a month, Without Walls’ chief financial officer Debbie Pullen told the Times. Full payment on the loans on both sites will be due in July 2010.

White said the church still plans to sell the Tampa property, which like the Lakeland campus was put on the market in March 2008. But he said the revised loan agreement gives the church time to refinance or to sell some of its assets.

If the property is sold, White said the Tampa church would either merge with the Lakeland congregation or build a new facility in Tampa debt-free.

Without Walls’ attendance has dropped significantly since White and his former co-pastor, Paula White, divorced. White also lost his daughter to brain cancer last year. But White said the revised loans represent another chance for the ministry.

“It’s very exciting,” he said. “Lord knows our church has been through a lot in 18 months. … It kind of gives everybody a sigh of relief. We can now focus on what we’re called to do.”

He told Tampa Bay Online that the church rehired three of seven employees it laid off earlier this year. The seven workers represented roughly a quarter of the church’s staff.

White also said Without Walls has hired a California attorney to explore filing a lawsuit against The Tampa Tribune, which White has accused defaming him and his ex-wife in its reporting on the church and the couple’s divorce.

CHARISMA NEWSLETTERS

Stay up-to-date with current issues, Christian teachings, entertainment news, videos & more.

The latest breaking Christian news you need to know about as soon as it happens.

Prophetic messages from respected leaders & news of how God is moving throughout the world. 


MORE FROM CHARISMA

How Divine Wrestling Changes Our Identity

How Divine Wrestling Changes Our Identity

All of us at some point will hit a place of getting the wind knocked out of us. We all experience unexpected detours and times when there seems to be no way out. But there is One who lives in us, the Lord Jesus Christ, who gives us the strength to overcome obstacles....

Spirit-Filled Pastor: How Does God Lead Us Today?

Spirit-Filled Pastor: How Does God Lead Us Today?

Whether it is the Spirit leading or forbidding in the book of Acts, or the Spirit leading throughout Christian history, it’s clear that the leading of the Spirit is important. In the Old Testament, it appears that the Spirit of God could be withdrawn completely from...

Joyce Meyer: Keys to Winning Your Race in Life

Joyce Meyer: Keys to Winning Your Race in Life

Everyone has a race to run. That just means we all have a life to live. The apostle Paul says in Hebrews 12:1 (NIV), “Therefore...let us throw off everything that hinders and the sin that so easily entangles. And let us run with perseverance the race marked out for...

Prophetic Word: The Lord Says, ‘I Am the Consuming Fire’

Prophetic Word: The Lord Says, ‘I Am the Consuming Fire’

God says that during this season, He is turning up the heat, finding the gold and bringing His refining fire. Job makes a powerful statement of faith as he says of the Lord, "When he has tried me, I shall come out as gold." God knew Job's heart and Job knew the heart...

What Is ‘The One Thing’ God Wants From You?

What Is ‘The One Thing’ God Wants From You?

In 1971, I was invited to spend one month in Singapore at a new institute that had been started by John Haggai. It was still in the formative stages then—a place where Asian church leaders would be trained and challenged to witness for Christ. Today, more than 40...

37 Prayers for the Suffering Persecuted Church

37 Prayers for the Suffering Persecuted Church

It was a Pentecost bloodbath and most Christians never heard about it. More than 50 Christians were killed in one of the deadliest terror attacks on Nigerians this year. Scores of gunmen rushed in to kill Christians in the midst of worship. All told, over 360 million...

RECENT ARTICLES

Prophecy: A Window of Time Has Opened for Believers to Preach the Truth

I was rejoicing and praising God on Friday, June 24, 2022, for the overturning of Roe v. Wade, knowing that an ungodly decree was overturned and one national curse was broken. I heard by the Holy...
The Man Who Spent 23 Minutes in Hell: The People I Saw in Hell

The Man Who Spent 23 Minutes in Hell: The People I Saw in Hell

In 1998, God gave me a life-changing vision of hell. I receive many questions about my experience from people all over the world, but one question I'm often asked is, "Who did you see in hell?" There are others who say they've had an experience like mine, and they...

The United States: Birthed in Prophetic Symbolism

The United States: Birthed in Prophetic Symbolism

One of the most amazing facts about the Founding Fathers of our nation is this: The one referred to as the "voice" of the revolution (John Adams) and the one referred to as the "pen" of the revolution (Thomas Jefferson) both died on the same day—July 4, 1826—exactly...

Why Did God Give ‘This’ to Me?

Why Did God Give ‘This’ to Me?

It’s a question I frequently hear. It’s one I’ve asked. And maybe it’s one you’ve asked, too. The question is, “God, why did You give this to me?” This can be any number of issues, from emotional or psychological struggles to symptoms or sicknesses, disabilities or...

No Evil Can Stop What God Has Planned

No Evil Can Stop What God Has Planned

I sense it. And I perceive a growing number of people in massive proportions sense the increasing momentum of power and might worldwide. Something is on the horizon—something more eerie and ominous than what the people of the world have ever before experienced. Even...

Pin It on Pinterest