Foreclosures

Lender files to foreclose on downtown's Villagio condos

August 15, 2014
Scott Olson
First Horizon Home Loans claims the owner of the Villagio at Page Pointe still owes nearly $5.2 million on an $11.6 million loan and is asking a court to appoint a receiver to manage the property until it's sold.
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Lender forecloses on two downtown office buildings

August 13, 2014
Scott Olson
The Gold Building and Two Market Square have been struggling to maintain tenants and face a potential exodus of others to the county's proposed criminal justice complex.
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Lender to bankrupt country club puts on suitor’s cap

June 7, 2014
Greg Andrews
The lender for the Hawthorns Golf & Country Club is an affiliate of California-based Concert Golf Partners, which hopes to convert its debt into ownership of the Fishers club.
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HDG Mansur affiliate losing ownership of Market Tower

May 21, 2014
Scott Olson
A Marion Superior Court judge on Tuesday entered a judgment to foreclose on the downtown building after MT Acquisitions LLC failed to pay its nearly $60 million mortgage balance.
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Dora Brothers affiliate loses downtown hotel in bankruptcy

April 14, 2014
Scott Olson
The Fishers-based company lost the Comfort Suites City Centre near Lucas Oil Stadium in a bankruptcy reorganization filed by one of its affiliates, which owed a creditor about $12 million.
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Bank files to foreclose on Garcia Construction property

March 27, 2014
Scott Olson
Fifth Third Bank claims that the company operated by Charles Garcia, a former Indianapolis Chamber of Commerce chairman, owes it about $2.3 million for loans on Garcia Construction's building at 6002 N. Michigan Road, and on personal property.
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Broadbent in mortgage dispute involving retail center

March 24, 2014
 IBJ Staff
The owner of Castleton Place, a shopping center in one of the city’s busiest retail areas, is the target of a $5 million foreclosure lawsuit by a lender that seeks to have the property placed in receivership.
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Durham's Geist mansion goes back to the bank at auction

March 6, 2014
Lender JPMorgan Chase & Co. took possession of convicted Ponzi schemer Tim Durham’s Geist mansion Thursday after the property failed to draw an offer higher than the bank’s base bid of $2.24 million.
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Bill to target abandoned-home epidemic in Indiana

December 23, 2013
Chris O'Malley
Sen. Jim Merritt, R-Indianapolis, wants to shorten the amount of time vacant homes sit idle.
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Pressure on legislature to address abandoned homesRestricted Content

December 14, 2013
Chris O'Malley
Banks are pushing for reform to the state's process for home foreclosures.
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Bank tells tardy borrowers to get job—­and offers to help

November 23, 2013
Chris O'Malley

What if a mortgage lender could help the unemployed/underemployed customer find a job and avoid the roughly $50,000 it can cost the institution to foreclose? Cincinnati-based Fifth Third Bank began trying that very approach in central Indiana a few months ago, in the form of a re-employment assistance program.

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Uptown Business Center headed to sheriff's sale

November 12, 2013
Scott Olson
The building in SoBro is at the center of a lengthy court feud in which the owner had attempted to delay foreclosure by filing to reorganize assets—a strategy that a bankruptcy judge rejected last month.
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Local hotelier files for bankruptcy on 7 properties

November 8, 2013
Mason King
Reeling from the recession, Bharat Patel hopes to protect the hotels from foreclosure. Their lender is owed as much as $120 million, according to court filings.
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Foreclosure suit tests HDG Mansur on a new frontRestricted Content

October 26, 2013
Greg Andrews
HGCC Lender LLC this month filed a $4.8 million foreclosure suit and asked a court to appoint a receiver for Hamilton Proper's 279-acre Hawthorns Golf & Country Club.
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Centre Properties escapes foreclosure on 12 properties

July 30, 2013
Jeff Newman
Financial terms of the agreements, announced in a written statement, were not disclosed, but the mortgages involve tens of millions of dollars in debt on retail properties spread throughout the area.
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National mortgage settlement checks in the mail

June 4, 2013
Associated Press
Indiana Attorney General Greg Zoeller says checks totaling more than $26 million will be mailed to more than 18,000 Indiana consumers this month containing shares of the National Mortgage Settlement.
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Indiana foreclosure prevention program expanding

April 17, 2013
Associated Press
State officials estimate that about 10,000 Indiana homeowners will get help in making their mortgage payments under an expansion of a federally funded foreclosure prevention program.
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Bank foreclosing on former charter school property

February 25, 2013
Old National Bank is suing the operator of charter school that closed last summer in Indianapolis, claiming it failed to pay off the $1.8 million balance on its mortgage.
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Women’s physician building targeted for foreclosure

December 21, 2012
A lawsuit from the lender claims that Women's Physician Group still owes $8.7 million on a $9 million loan it received for a northwest-side building.
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Home seizures by banks rise in Indiana, nationally

December 13, 2012
 IBJ Staff, Bloomberg News, Associated Press
Home repossessions rose in 29 states and the District of Columbia in November, led by an increase of 96 percent in Indiana. However, the number of homes starting on the path to foreclosure declined to the lowest level in six years.
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$22M foreclosure suit targets local apartment complexes

November 21, 2012
Scott Olson
The three complexes are Dogwood Glen Apartments on the city's northwest side, Elmtree Park Apartments on the far-east side and Heathmoore Apartments on the southeast side.
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Two Indianapolis office buildings in foreclosure

November 5, 2012
Scott Olson
The buildings on the northwest side of the city total nearly 200,000 square feet and are owned by an affiliate of a company that operates 12 cemeteries and four funeral homes throughout Indiana.
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Lender forecloses on Uptown Business Center

October 15, 2012
Cory Schouten
A lender has filed to foreclose on the Uptown Business Center, a neighborhood retail building at the southwest corner of 49th Street and College Avenue that a local developer had hoped to use as a springboard to revitalize the intersection.
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Receiver appointed to manage troubled Century Building

October 1, 2012
Scott Olson
A Marion Superior Court judge has appointed a receiver to manage the seven-story building in downtown Indianapolis that is facing foreclosure. A lender to the building's owner claims it is owed $10.5 million.
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Settlement allows Broadbent to keep downtown HQ

September 28, 2012
Scott Olson
The Indianapolis developer will continue to own its corporate headquarters at 117 E. Washington St. after reaching a settlement with two banks that had filed a lawsuit to foreclose on the building.
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