Another northwest-side apartment complex faces foreclosure
Lender Fannie Mae filed to foreclose on Inverness Apartment Homes, whose Vancouver-based owner allegedly owes $4 million on a note that was due in February.
Lender Fannie Mae filed to foreclose on Inverness Apartment Homes, whose Vancouver-based owner allegedly owes $4 million on a note that was due in February.
Owners of the nearly 40,000-square-foot office complex near East 71st Street and Binford Boulevard have defaulted on a $3 million bank note, according to court documents.
Fannie Mae filed a lawsuit in Marion Superior Court Tuesday, seeking foreclosure and the appointment of a receiver at Arrowwoods Apartments over an unpaid note of $4.56 million.
Shopping center on East 82nd Street lists nearly $10.4 million in liabilities and about $7.6 million in assets. The Chapter 11 filing follows a request to foreclose on the property from the center’s lender.
Blue Real Estate defaulted on a $17.5 million loan for six buildings in Park 100, according to a mortgage foreclosure suit Bank of America filed this month in Marion County.
German American Capital Corp. claims the owner of the strip mall, Castleton Plaza LP—a subsidiary of Broadbent Co.—owes it $10 million. The lender is requesting the property be sold at a sheriff's sale to help satisfy the debt.
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.
Lawmakers might address in the upcoming legislative session the controversy over who is responsible for upkeep on foreclosed properties.
Homeowners Dwayne Ransom Davis and Melisa Davis sued last month in Indianapolis, claiming Bank of America “routinely” submitted perjured affidavits to support foreclosures. They lost their Knightstown home last year.
Dwayne Ransom Davis and Melisa Davis accuse the lender of using “robo-signers,” people who sign affidavits attesting to facts underlying foreclosures without actual knowledge of those facts, to push through paperwork to take their home in Knightstown.
A top Obama adviser questioned the need Sunday for a blanket stoppage of all home foreclosures, despite evidence that banks have used inaccurate documents to evict homeowners.
A recent wave of foreclosure auctions suggests banks and other underwater real estate owners finally are poised to let go of a glut of properties.
August makes the ninth month in a row that the pace of homes lost to foreclosure has increased on an annual basis. Banks have been stepping up repossessions to clear out their backlog of bad loans.
The state of Indiana and several of its communities hard-hit by home foreclosures are getting $31.5 million in federal grants to stabilize blighted neighborhoods.
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.
The foreclosure epidemic has left a wake of carnage in the Indianapolis area.
Until this year, Indiana’s foreclosure epidemic knew no demographic boundaries. But suddenly that’s changed. Since March,
not a single foreclosure on a house priced at $1 million or more has been filed in the Indianapolis area—a possible
sign of better times for uber-expensive homes.
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 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.