Dora Brothers affiliate loses downtown hotel in bankruptcy
The Fishers-based company lost the Comfort Suites City Centre near Lucas Oil Stadium in a bankruptcy reorganization filed by one of its affiliates, which owed a creditor about $12 million.
Foreclosures
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Bank files to foreclose on Garcia Construction property
Fifth Third Bank claims that the company operated by Charles Garcia, a former Indianapolis Chamber of Commerce chairman, owes it about $2.3 million for loans on Garcia Construction’s building at 6002 N. Michigan Road, and on personal property.
Broadbent in mortgage dispute involving retail center
The owner of Castleton Place, a shopping center in one of the city’s busiest retail areas, is the target of a $5 million foreclosure lawsuit by a lender that seeks to have the property placed in receivership.
Durham’s Geist mansion goes back to the bank at auction
Lender JPMorgan Chase & Co. took possession of convicted Ponzi schemer Tim Durham’s Geist mansion Thursday after the property failed to draw an offer higher than the bank’s base bid of $2.24 million.
Bill to target abandoned-home epidemic in Indiana
Sen. Jim Merritt, R-Indianapolis, wants to shorten the amount of time vacant homes sit idle.
Pressure on legislature to address abandoned homes
Banks are pushing for reform to the state’s process for home foreclosures.
Bank tells tardy borrowers to get job—and offers to help
What if a mortgage lender could help the unemployed/underemployed customer find a job and avoid the roughly $50,000 it can cost the institution to foreclose? Cincinnati-based Fifth Third Bank began trying that very approach in central Indiana a few months ago, in the form of a re-employment assistance program.
Uptown Business Center headed to sheriff’s sale
The building in SoBro is at the center of a lengthy court feud in which the owner had attempted to delay foreclosure by filing to reorganize assets—a strategy that a bankruptcy judge rejected last month.
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.
Foreclosure suit tests HDG Mansur on a new front
HGCC Lender LLC this month filed a $4.8 million foreclosure suit and asked a court to appoint a receiver for Hamilton Proper’s 279-acre Hawthorns Golf & Country Club.
Centre Properties escapes foreclosure on 12 properties
Financial terms of the agreements, announced in a written statement, were not disclosed, but the mortgages involve tens of millions of dollars in debt on retail properties spread throughout the area.
National mortgage settlement checks in the mail
Indiana Attorney General Greg Zoeller says checks totaling more than $26 million will be mailed to more than 18,000 Indiana consumers this month containing shares of the National Mortgage Settlement.
Indiana foreclosure prevention program expanding
State officials estimate that about 10,000 Indiana homeowners will get help in making their mortgage payments under an expansion of a federally funded foreclosure prevention program.
Bank foreclosing on former charter school property
Old National Bank is suing the operator of charter school that closed last summer in Indianapolis, claiming it failed to pay off the $1.8 million balance on its mortgage.
Women’s physician building targeted for foreclosure
A lawsuit from the lender claims that Women’s Physician Group still owes $8.7 million on a $9 million loan it received for a northwest-side building.
Home seizures by banks rise in Indiana, nationally
Home repossessions rose in 29 states and the District of Columbia in November, led by an increase of 96 percent in Indiana. However, the number of homes starting on the path to foreclosure declined to the lowest level in six years.
$22M foreclosure suit targets local apartment complexes
The three complexes are Dogwood Glen Apartments on the city’s northwest side, Elmtree Park Apartments on the far-east side and Heathmoore Apartments on the southeast side.
Two Indianapolis office buildings in foreclosure
The buildings on the northwest side of the city total nearly 200,000 square feet and are owned by an affiliate of a company that operates 12 cemeteries and four funeral homes throughout Indiana.
Lender forecloses on Uptown Business Center
A lender has filed to foreclose on the Uptown Business Center, a neighborhood retail building at the southwest corner of 49th Street and College Avenue that a local developer had hoped to use as a springboard to revitalize the intersection.
Receiver appointed to manage troubled Century Building
A Marion Superior Court judge has appointed a receiver to manage the seven-story building in downtown Indianapolis that is facing foreclosure. A lender to the building’s owner claims it is owed $10.5 million.