Bank drops foreclosure suit against James MacDonald

Pastor James MacDonald preaches at Harvest Bible Chapel. | Courtesy of James MacDonald

Controversial founder of Harvest Bible Chapel in greater Chicago, James MacDonald, is no longer in danger of losing his sprawling $1.6 million custom-built home in Elgin, Illinois, after the bank holding his mortgage withdrew a foreclosure lawsuit against him Wednesday.

Republic Bank of Chicago filed an order in Kane County court saying it agreed to dismiss the suit because it reinstated MacDonald’s mortgage but did not specify why, the Daily Herald reported.

MacDonald had previously owed $947,546.34 on his five-bedroom, 5.5-bathroom home that sits on 10 acres along Highland Avenue. He allegedly borrowed $990,000 from Republic Bank of Chicago to purchase the home in 2016. Since last December, it was reported that MacDonald hadn’t made a mortgage payment up to the time of the

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Bank drops foreclosure suit against fired Harvest Bible pastor

A foreclosure suit on the mortgage for the estate home of fired Harvest Bible Chapel pastor James MacDonald has been dropped by the bank.

Kane County court records show that Republic Bank filed an order Wednesday, saying it agreed to dismiss the suit because it reinstated the mortgage.

        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        

 

It did not specify why it reinstated the mortgage.

In the foreclosure suit, which was filed in July, the bank said MacDonald had not made a mortgage payment since December 2019. It sought $947,546 from MacDonald.

The suit also named MacDonald’s limited liability corporation, Vanilla Bean, as a defendant.

The house, on the 14N300 block of Highland Avenue west of Elgin, was bought in January 2016 with a $990,000 loan, according to the suit.

The Rutland Township assessor’s office describes the home as a 1½-story stone-and-cedar house with 3½ baths, on a lot a little more than 5 acres. Realtor.com said it

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