PSI Fund II LTD, a Dallas-based company that specializes in lending money to funeral homes, is trying to foreclose on nine funeral homes in connection with $5.1 million worth of defaulted loans.
Among those funeral homes named in the suit is Blytheville's Cobb Funeral Home.
PSI Fund II, LTD filed a lawsuit with the Arkansas Western District Court in Hot Springs on Feb. 16. According to ArkansasBusiness. com, the lawsuit did not name Selected Financial Services Corp. of Hot Springs as a defendant in the case but did name its subsidiaries because they had been listed as collateral for the loans.
In addition to Cobb Funeral Home, other funeral homes listed included Atkins Funeral Service of Malvern, Billingsley Funeral Home of Mena, CedarVale Funeral Home and Cemetery of Hot Springs Village, Greenwood Properties of Hot Springs, Malvern Funeral Home and Cemetery, Smith Mortuary of Charleston and Thornton Funeral Service of Mount Ida.
Numerous calls to reach a Selected Financial Service representative were not returned.
Cobb employees declined to comment.
czolman@blythevillecourier.com