College in Atlanta Faces Foreclosure

Morris Brown College's creditor calls in loans.

Morris Brown College is facing foreclosure of its property on Sept. 4, the African Methodist Episcopal Church said Tuesday.

According to a news release, a creditor of the historically black college, a corporation which holds $13.1 million in college bonds secured by its downtown Atlanta property, has called the loans and the college is unable to pay.

In a statement, Preston W. Williams II, chairman of the board of trustees of Morris Brown, said he will announce the school's formal response on Saturday, Aug. 25, at 1 p.m. at an event on the school's campus. Leaders are calling for people to gather at the school's gymnasium to hear the plan and pray for the school's survival.