The Treasury Department said Wednesday it will send $2 billion to 17 states that have unemployment rates higher than the national
average for a year. Indiana is due to receive $83 million. States will use the money for programs to aid unemployed homeowners.
The Indiana Foreclosure Prevention Network will hold meetings in eight cities across the state soon to help people stay in
their homes.
Todd Leary of Carmel pleaded guilty in court Thursday to a felony charge of misappropriating title insurance escrow funds.
His agreement with prosecutors calls for him to face up to three years in prison, with that cut in half if he pays nearly
$295,000 in restitution.
Nearly 528,000 homes were taken over by lenders in the first six months of the year, a rate that is on track to eclipse the
more than 900,000 homes repossessed in 2009.
A new federal law intended to enhance consumer protection and reduce fraud in the residential loan market may put the kibosh on seller financing of residential properties. This has huge implications for owners of rental housing.
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.
The recent chatter followed the bank board’s decision to award CEO Milton J. Miller II a severance agreement entitling him to extra pay in the event of a merger.
Lenders must pass the test by July 1, or their licenses will be revoked. So far, just 58 percent of more than 1,000 in the
state
have passed.
Credit problems continue to bedevil banks big and small, many of them caused by soured commercial real estate loans.
Congress is getting tougher on both borrowers and lenders blamed for inflating a housing bubble that, when it popped, plunged
the nation into a severe recession two years ago.
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.
The government now views loan officers more like factory workers than white-collar business managers.
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.
The program will expand to St. Joseph and Marion counties this month, to Monroe County this summer, and the rest of the state
later.
The country started off as a dump for prisoners and other unwanted British citizens, but it has evolved into a modern-day
paradise.
A business owner and three people allegedly involved in a large mortgage fraud scheme face prison sentences for failing to
report income or file certain tax forms.
Rating system will help homebuyers avoid the risks of borrowing.
Problem loans led to a $2.1 million loss for the Web-based financial company in 2009.
U.S. House legislators want to get to the bottom of banks' roles in the economic recovery, both via loans to small businesses
and shouldering losses on commercial real estate lending.
Federal prosecutors say the men were part of a scheme in which straw deals were set up to obtain inflated mortgages on more
than 100 Indianapolis houses.
