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Richmond church to be auctioned after foreclosure

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Posted at 10:56 AM, Sep 27, 2013
and last updated 2013-09-27 10:56:47-04

RICHMOND, Va. (RichmondBizSense.com) – A Southside house of prayer is headed for the auction block.

The Richmond Christian Center building at 214 Cowardin Ave. has entered foreclosure and is slated to be sold at auction next week.

Foundation Capital Resources, a Mississippi-based lender and REIT that specializes in financing for churches, is foreclosing on the property after the center defaulted on a $4.4 million loan issued in September 2005.

Click here to read the full article on RichmondBizSense.com.