Foreclosures

Study of local mortgage defaults shows benefit of counseling

June 22, 2010
Peter Schnitzler
A study by the Federal Reserve Bank of Chicago finds a strong correlation between pre-mortgage credit counseling and loan performance after comparing Indianapolis Neighborhood Housing Partnership clients with other low-income Marion County borrowers.
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PNC foreclosing on Janus Lofts building

June 22, 2010
Cory Schouten
Pittsburgh-based PNC Bank has filed to foreclose on the historic five-story Janus Lofts building at 240 S. Meridian St.
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New Indiana law aims to promote safety of traditional loansRestricted Content

May 22, 2010
Scott Olson
A new state program is encouraging lenders to promote the stability of their conventional mortgages to help Indiana's housing market rebound from a foreclosure crisis instigated by risky loans.
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Habitat foreclosures on riseRestricted Content

May 22, 2010
Kathleen McLaughlin
So far this year, Habitat for Humanity of Greater Indianapolis has filed six foreclosure suits, more than in any of the past five years. The organization also repossessed four houses as a result of the prior year's foreclosures. In a typical year, CEO Dean Illingworth said, Indy Habitat takes back one or two houses, so the recent uptick is troubling.
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A new real estate crisis could wreck recoveryRestricted Content

April 24, 2010
Greg Andrews
Borrowers may not be able to refinance many of the more than $1.4 trillion in commercial real estate mortgages coming due by the end of 2014.
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Receivership business picks up for property managers

March 23, 2010
Tom Harton
Companies hired by the courts to manage properties in financial distress are benefiting as the number of such properties grows.
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Indiana Legislature approves mortgage certification program

March 20, 2010
 IBJ Staff
Rating system will help homebuyers avoid the risks of borrowing.
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First Internet Bank suffers first loss since 2000

March 1, 2010
Peter Schnitzler
Problem loans led to a $2.1 million loss for the Web-based financial company in 2009.
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Giant Heartland Crossing housing development hangs on

December 19, 2009
Kathleen McLaughlin
Short sales and foreclosures in this 2,200-unit development began cropping up several years ago and continue today.
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PEARCE: More companies are focusing on consumers with poor credit ratings

December 12, 2009
Mike PearceMore

National, state foreclosure filings fall

November 12, 2009
 IBJ Staff and Associated Press
Indiana foreclosure filings were down only 1.5 percent in October from the previous month, but have fallen a whopping 18.5 percent from October 2008.
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Second developer facing foreclosure on Fishers property

October 20, 2009
Scott Olson
The developer of the proposed $80 million project is facing foreclosure on the property at the same time adjoining land critical to the project's development has been scheduled for liquidation by a lender.
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Panel handicaps market recovery chancesRestricted Content

May 25, 2009
Cory Schouten
A panel of five veterans of real estate and construction provided industry insights at IBJ's Power Breakfast May 1 at the Westin Indianapolis.
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Foreclosure investors shift to buy-and-hold strategyRestricted Content

April 6, 2009
Sam Stall
Instead of buying and selling, investors with ready cash are buying houses at substantial markdowns, turning them into rental properties and sitting tight until the market improves.
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Market, not bailouts, should stimulate refinancingsRestricted Content

March 2, 2009
Mike Hicks
Markets, no matter how imperfect, not government programs, manage the economy.
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Fast-growing appraisal firm evolves from subprime pastRestricted Content

February 23, 2009
Cory Schouten
One of the largest independent survivors of the subprime debacle is staking its future on a real estate appraisal business based in Indianapolis.
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Foreclosed properties create quandary for financial institutionsRestricted Content

February 2, 2009
Cory Schouten
Real estate holdings of the nonbank-branch variety are growing fast on bank balance sheets.
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Lenders foreclose on at least 20 properties in mortgage schemeRestricted Content

October 20, 2008
Cory Schouten

Charter Homes recruited and paid buyers to take out inflated mortgages on dozens of central Indiana homes it built, promising to manage the properties as rentals and make payments for the owners, current and former Charter business partners say.


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Lender claims M&I Plaza when it fails to sell at auctionRestricted Content

June 30, 2008
Cory Schouten
A Maryland company has taken ownership of downtown's 28-story M&I Plaza just three months before a major tenant departure leaves the skyscraper 70-percent vacant. The new owner is CapitalSource Inc., a commercial finance and investment firm based in Chevy Chase, Md. It had been a lender to the former owner, which defaulted.
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Creditor pursues Premier propertyRestricted Content

March 10, 2008
Cory Schouten
Wachovia Bank has begun foreclosure proceedings on one of Premier Properties USA Inc.'s most prized developments, a giant Ohio lifestyle center anchored by Target and J.C. Penney. The Charlotte, N.C.-based bank also is foreclosing on a vacant former Wal-Mart store in front of Premier's Metropolis mall in Plainfield.
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Regulators seek mortgage reformsRestricted Content

December 3, 2007
Peter Schnitzler
State regulators want more firepower to fight mortgage crimes. But a month before the General Assembly convenes, real estate interests are uneasy, fearing lawmakers may go overboard.
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  1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

  2. I'm sorry, but you are flat out wrong. There are few tracks in the world with the history of IMS and probably NO OTHER as widely known and recognized. I don't care what you think about the stat of Indy Car racing, these are pretty hard things to dispute.

  3. Also wondering if there is an update on the Brockway Pub-Danny Boy restaurant/taproom that was planned for the village as well?

  4. Why does the majority get to trample on the rights of the minority? You do realize that banning gay marriage does not rid the world of gay people, right? They are still going to be around and they are still going to continue to exist. The best way to get it all out of the spotlight? LEGALIZE IT! If gay marriage is legal, they will get to stop trying to push for it and you will get to stop seeing it all over the news. Why do Christians get to decide what is moral?? Why do you get to push your religion on others? How would legalizing gay marriage expose their lifestyle to your children? By the way, their lifestyle is going to continue whether gay marriage is legalized or not. It's been legal in Canada for quite a while now and they seem to be doing just fine. What about actual rules handed down by God? What about not working on Sundays? What about obeying your parents? What about adultery? These are in the 10 Commandments, the most important of God's rules. Yet they are all perfectly legal. What about divorce? Only God is allowed to dissolve a marriage so why don't you work hard to get divorce banned? Why do you get to pick and choose the parts of the Bible you care about?

  5. Look at the bright side. With the new Lowe's call center, that means 1000 jobs at $10 bucks an hour. IMS has to be drooling over all that disposable income. If those employees can save all their extra money after bills, in five years they can go to the race LIVE. Can you say attendance boost?

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