Ex-investor sentenced in Indiana mortgage fraud
Robert A. Penn, 44, of Naples, Fla., received seven years in prison and was ordered to pay more than $11 million in restitution.
Mortgages
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Indianapolis Airport Authority credit rating holds steady even as revenue falls
Indianapolis has fared better than some airports in terms of declining revenue, with passengers down
about 10 percent for much of the year and revenue off 16 percent at one point.
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.
Local man gets 37 months in mortgage-fraud scheme
A federal judge has ordered an Indianapolis man to serve 37 months in prison and pay $1.7 million in restitution for his role in a massive mortgage fraud scheme.
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.
Avoid temptation to delay property tax payments
If you are late in making property tax payments, begin to chip away at your bill by making weekly payments.
Geist restaurateur buffeted by financial squalls
Henri and Shelley Najem, who own The Bella Vita restaurant in Geist, represent the scores of Indiana restaurant operators
feeling financial pressure, given the severe economic slump.
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.
Lease-to-own options becoming more popular
With credit tight and the economy shaky, homeowners around the region are increasingly choosing to sell their properties on
a lease-to-own basis.
Bailout helping PNC take over NatCity
After a 17-year run in Indianapolis, National City’s trademark green signs are set to be replaced with the blue of Pittsburgh-based PNC Financial. The $5.6 billion deal raises questions about the government’s growing involvement in banking.
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.
Regulators seek mortgage reforms
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.