Local hotelier files for bankruptcy on 7 properties
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.
Interest Rates
Articles
First Internet profit falls on rising interest rates
Shares of the Indianapolis-based bank took a nosedive during trading Friday morning after it reported its third-quarter earnings.
Carmel council approves refinancing package
Carmel’s City Council on Monday night voted 7-0 to approve a proposal to refinance $195 million in debt incurred by the Carmel Redevelopment Commission.
Record-low rates aren’t creating rush at local mortgage firms
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.
This year could top 2010 foreclosure record
Lenders are poised to take back more homes this year than any other since the U.S. housing meltdown began in 2006, RealtyTrac said Thursday.
UPDATE: Competitors’ woes could help Fishers mortgage firm expand
Fishers-based Stonegate Mortgage Corp. plans to spend about $3 million to expand operations, creating up to 300 jobs by 2015.
Bond swaps cost city units $93M in penalties
Wall Street bankers for decades sold municipalities like Indianapolis on debt instruments called swaps as a safe way to reduce
borrowing costs and hedge against rising interest rates. In reality, the swaps were complicated bets that relied
on misguided assumptions, and taxpayers paid.
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.
Indiana Legislature approves mortgage certification program
Rating system will help homebuyers avoid the risks of borrowing.
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.
Market, not bailouts, should stimulate refinancings
Markets, no matter how imperfect, not government programs, manage the economy.
Hospitals suffer from spiking bond interest rates, investment losses
Indianapolis-area hospitals have suffered a double whammy of spiking interest rates on their bonds and heavy losses in their
investment portfolios and are trying to save cash any way they can.