Kelleher’s first Jones County office was in the former office of Dr. Jones near First Baptist Church of Gray. In September of 2001, he moved into his new building on Pecan Drive.
His practice thrived at his new location, but problems arose when the real estate crash hit and the value of his property dropped below the amount of his commercial loan. The two banks that financed most of the growth in Gray failed, and in stepped the FDIC.
“When the new bank took over, they started liquidating, and my loan was included in that. I was unable to renew the loan on my property,” he said.
Despite his efforts to work it out, the bank foreclosed on the property because of the difference in what was owed and the appraised value.
Kelleher said he kept Romans 8:28 in mind, “All things work together for those who love the Lord,” and had faith everything would work out.
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