Mortgages

North-side office building falls into foreclosure

August 27, 2012
A nearly 100,000-square-foot office building on East 46th Street in Indianapolis is in foreclosure after lenders found the owner in default on a $4.5 million loan. A hearing to appoint a receiver to manage the property has been set for Sept. 5.
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Centre Properties retail center hit with $7M foreclosure suit

August 9, 2012
Scott Olson
Indianapolis-based developer Centre Properties is the target of another foreclosure suit, this one involving Pyramid Place Shoppes, a retail center in a busy shopping area on the city's northwest side.
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National, state foreclosure starts on the rise

August 9, 2012
Bloomberg News, Associated Press
The number of homes that received an initial notice of default — the first step in the foreclosure process — increased 6 percent in July compared to the same month last year. Foreclosure starts rose 83 percent in Indiana.
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More U.S., Indiana homes facing foreclosure risk

July 12, 2012
Associated Press
More than 1 million properties experienced foreclosure filings in the first half of 2012. Twenty states saw a first-half rise in foreclosure activity from the same time a year ago. Indiana had the biggest rise on a percentage basis, with a 32-percent increase in foreclosure activity.
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Indianapolis fastest-growing companies run the gamutRestricted Content

June 16, 2012
Marc D. Allan
This year's list of fastest-growing private companies in the Indianapolis area is a diverse lot, operating in industries ranging from human resources to office furnishings to construction to home health care and games.
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Bank seeks to foreclose on local apartment complex

June 4, 2012
The owners of Arbor Green Apartments on the city's northeast side owe nearly $15.9 million on a 2008 loan, according to court documents.
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Fishers building owner seeks bankruptcy reorganization

May 30, 2012
Lantern Partners LLC owns the Freedom Mortgage Building once occupied by the failed Irwin Mortgage Corp. Lantern's largest creditor is owed nearly $11.4 million.
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South-side medical office building in foreclosure

May 18, 2012
Munster-based Citizens Financial Bank claims the owner of the building at 1340 E. County Line Road owes $4.1 million on a loan originating from 2002 and is seeking to have a court-appointed receiver manage the building's operations.
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Local real estate developer files for bankruptcy

May 1, 2012
Scott Olson
Cornelius M. Alig, chairman and CEO of Mansur Real Estate Services Inc., filed for Chapter 7 protection, listing $11 million in personal debt he attributed to the prolonged slump in the real estate market.
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Hundreds losing jobs at local Aurora Bank office

April 25, 2012
Scott Olson
The bank said it will terminate all 450 employees at its office on the northeast side of Indianapolis as the troubled residential mortgage servicing provider prepares to sell a large portion of its assets.
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Foreclosures down nationally, up in Indiana

April 12, 2012
Associated Press
Actual foreclosures sank to a five-year low in March, but the number of homes entering the foreclosure process is on the rise again.
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Foreclosures surge in most states, including Indiana

March 15, 2012
Associated Press
Indiana saw default notices climb 37 percent in February compared to February 2011. Scheduled home auctions were up 92 percent from the previous year.
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Zionsville real estate schemer sentenced to 30 months

March 14, 2012
Kathleen McLaughlin
A Zionsville man who pushed real-estate investing schemes has been sentenced to 30 months in prison after pleading guilty to wire fraud and money laundering.
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Local mortgage firm lands $25M in private equity

March 12, 2012
 IBJ Staff and Bloomberg News
Indianapolis-based Stonegate Mortgage Corp. has received funding from Long Ridge Equity Partners, a private-equity firm, to help it expand in mortgage origination and servicing, the company said Monday.
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Record-low rates aren't creating rush at local mortgage firms

March 12, 2012
Scott Olson
Local mortgage industry executives say record-low interest rates aren't leading to a big boom in business because broader economic issues are keeping large parts of the population from seeking or qualifying for loans.
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LISC sues to foreclose on Emrich's Furniture buildingRestricted Content

March 10, 2012
Kathleen McLaughlin
LISC, a not-for-profit lender, says it has not received any payments on its $515,265 construction loan since Jan. 1, 2011, and is owed more than $228,000.
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Foreclosure activity edges higher in January

February 16, 2012
Associated Press
Banks took back more U.S. homes in January than in the previous month, the latest sign that foreclosures are accelerating after slowing sharply last year. Foreclosures were up 69 percent in Indiana compared to January 2011.
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Foreclosure sought for downtown's Century Building

February 15, 2012
Scott Olson
The lender claims owner Blue Real Estate defaulted on an $8.5 million loan on the historic building after failing to make payments beginning in July 2011.
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13K Indiana foreclosure victims to get $2K checks

February 9, 2012
Associated Press
Indiana homeowners will receive about $43 million in refinanced loans while other borrowers will get $30 million worth of loan-term modifications and other relief as part of a $25 billion nationwide settlement with the country's biggest mortgage lenders.
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Few in Indiana using state fund to avoid foreclosure

January 30, 2012
Associated Press
A state program created to help Indiana residents avoid foreclosure by providing them with 10-year loans is seeing few takers even though the state's foreclosure rate is among the highest in the nation.
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Stonegate Mortgage plans to add 45 workers in '11Restricted Content

November 19, 2011
 IBJ Staff
The Indianapolis-based firm has pledged to add a total of 300 workers by 2015.
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Suburban-hotel mayhem whipsaws entrepreneurRestricted Content

November 19, 2011
Greg Andrews
Two of Sanjay Patel's hotels landed in bankruptcy in November. Four others filed for Chapter 11 protection last year.
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Default notices, home seizures climb in Indiana, nation

November 10, 2011
 IBJ Staff and Bloomberg News
Indiana outpaced the rest of the nation last month in the number of default notices sent to delinquent homeowners and the amount of homes seized as U.S. foreclosure filings rose to a seven-month high.
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West-side Godby building in foreclosure

November 7, 2011
Scott Olson
A building at 4701 Rockville Road, owned by local businessman Thomas Godby, is the target of a $2 million foreclosure suit filed by Old National Bank. The building's tenants include Tony Stewart Racing Enterprises and Sara Fisher Racing LLC.
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First Internet Bancorp reports lower quarterly profit

November 2, 2011
The company earned $765,000 for the period ended Sept. 30, compared with $1 million in the year-ago period. First Internet attributed the decline to the timing of gains from closed but not-yet-sold mortgages to the secondary market.
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  3. is a disaster. SR37 already needs to be built to interstate standards between 465 and SR144. Southport Road is a mess each morning and evening.

  4. Bass Pro Shops would be good for the mall as well as a Giant Eagle Market District or a Jungle Jim's International Market Place grocery store like the one near Cincinnati Ohio.A Disney quest indoor theme park would be good.An Academy outdoor store would be good too.Indoor Circus shows and magic shows would be good as well. A casino with sports bar would be good.A Disney theater inside that shows movies and Broadway shows would work.Nashville Tennessee concert shops with indoor neon lights would be good.How about a theater that shows travel shows and theme parks. A train store would be good.How about a giant toy store with high tech video games.

  5. This development is in addition to Allpoints Midwest 5, Aitrtek, a recent FedEx and more in Plainfield. Greenwood and Brownsburg also have similar projects.

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