St. Paul Christian Community Church files Chapter 11 Bankruptcy

by San Antonio Attorney

Christ’s Household of Faith (CHOF), a St. Paul Christian community church and a low profile religious group, recently filed for Chapter 11 bankruptcy protection.

Michael Butler, the spokesman for the Church, stated last Monday that it is highly important to know that they have been compliant with loans until they were sold to Lone Star without their consent.

Butler added that the only choice the church had was to file for Chapter 11 bankruptcy instead and fully repay the mortgages after that.

Lone star did not want any mutual financial relationship since they threatened a full payment or foreclosure.

Established in St. Paul since 1971, it has occupied Ramsey Hill neighborhood and has a school that covers K-12 education.

CHOF also holds other properties in St. Paul such as 30 homes where their 470 members and 200 children live for free.  CHOF requires members to give up possessions and income upon joining and get a weekly stipend of $16.33.

In addition, they also have 11 entities particularly small businesses that cater to members.  One of the entities includes an auto shop thus declaring assets such as vehicles, according to court documents.

BMO Harris Bank previously handled CHOF’s mortgages, but turned over the loan to Lone Star, a Texas company.  Lone Star Funds did not respond to allegations of their refusal of a loan restructure plan and had full intention of foreclosing properties.

Aaron Gjerde, a Ramsey Hill Association President, revealed that they are aware of the entire situation and it is also something they have paid attention to.

Gjerde added that their primary concern is for their neighbors and have high hopes that CHOF will sort out issues with their creditors.

CHOF’s main campus is located in Ramsey Hill, along with their other businesses and other properties are located in the Summit-University area.

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