PNC foreclosing on Janus Lofts building
Pittsburgh-based PNC Bank has filed to foreclose on the historic five-story Janus Lofts building at 240 S. Meridian St.
Foreclosures
Articles
Habitat foreclosures on rise
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.
New Indiana law aims to promote safety of traditional loans
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.
A new real estate crisis could wreck recovery
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.
Court-backed foreclosure prevention program grows
The program will expand to St. Joseph and Marion counties this month, to Monroe County this summer, and the rest of the state
later.
Receivership business picks up for property managers
Companies hired by the courts to manage properties in financial distress are benefiting as the number of such properties grows.
Indiana Legislature approves mortgage certification program
Rating system will help homebuyers avoid the risks of borrowing.
First Internet Bank suffers first loss since 2000
Problem loans led to a $2.1 million loss for the Web-based financial company in 2009.
Giant Heartland Crossing housing development hangs on
Short sales and foreclosures in this 2,200-unit development began cropping up several years ago and continue today.
PEARCE: More companies are focusing on consumers with poor credit ratings
The hardest-hitting recession in 75 years has left as many as 70 percent of consumers (many newly credit-challenged) with battered credit scores. However, retailers who approach these customers with sensitivity and integrity can find great opportunity both for themselves and the customers they help get on the road to recovery. It has been our experience […]
National, state foreclosure filings fall
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.
Second developer facing foreclosure on Fishers property
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.
Panel handicaps market recovery chances
A panel of five veterans of real estate and construction provided industry insights at IBJ‘s Power Breakfast May
1 at the Westin Indianapolis.
Foreclosure investors shift to buy-and-hold strategy
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.
Market, not bailouts, should stimulate refinancings
Markets, no matter how imperfect, not government programs, manage the economy.
Fast-growing appraisal firm evolves from subprime past
One of the largest independent survivors of the subprime debacle is staking its future on a real estate appraisal business based in Indianapolis.
Foreclosed properties create quandary for financial institutions
Real estate holdings of the nonbank-branch variety are growing fast on bank balance sheets.
Lenders foreclose on at least 20 properties in mortgage scheme
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.
Lender claims M&I Plaza when it fails to sell at auction
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.
Creditor pursues Premier property
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.