U.S. banks to pay $8.5B in mortgage settlement
Hundreds of thousands of Americans stand to benefit from the latest mortgage-abuse settlement, but consumer advocates say U.S. banks may be getting the best of the deal.
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Former Lifestyle gym building target of foreclosure
The owner of the building at 4225 E. 82nd St. owes $4.9 million on a $7.4 million loan, according to the suit. The tenant, Lifestyle Family Fitness, closed the location in November 2011.
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.
Simon’s Rushmore Mall loan sent to servicer, Fitch says
A loan with a balance of $94 million on a South Dakota shopping center owned by Simon Property Group was sent to a special servicer because default is imminent, Fitch Ratings said.
$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.
U.S. sues Bank of America for $1B-plus in mortgage fraud
The top federal prosecutor in Manhattan sued Bank of America for more than $1 billion on Wednesday for mortgage fraud against Fannie Mae and Freddie Mac during the years around the financial crisis.
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.
Settlement allows Broadbent to keep downtown HQ
The Indianapolis developer will continue to own its corporate headquarters at 117 E. Washington St. after reaching a settlement with two banks that had filed a lawsuit to foreclose on the building.
Notices going to those eligible for mortgage settlement
More than 37,000 Indiana borrowers who lost homes to foreclosure soon will receive claim forms for payments under the national mortgage settlement.
Stonegate Mortgage acquires Florida firm
The Indianapolis-based mortgage company has entered the Florida market with its purchase of NattyMac LLC in St. Petersburg.
North-side office building falls into foreclosure
A nearly 100,000-square-foot office building on East 46th Street in Indianapolis is in foreclosure after lenders found the owner in default on a $4.5 million loan. A hearing to appoint a receiver to manage the property has been set for Sept. 5.
National, state foreclosure starts on the rise
The number of homes that received an initial notice of default — the first step in the foreclosure process — increased 6 percent in July compared to the same month last year. Foreclosure starts rose 83 percent in Indiana.
Centre Properties retail center hit with $7M foreclosure suit
Indianapolis-based developer Centre Properties is the target of another foreclosure suit, this one involving Pyramid Place Shoppes, a retail center in a busy shopping area on the city's northwest side.
More U.S., Indiana homes facing foreclosure risk
More than 1 million properties experienced foreclosure filings in the first half of 2012. Twenty states saw a first-half rise in foreclosure activity from the same time a year ago. Indiana had the biggest rise on a percentage basis, with a 32-percent increase in foreclosure activity.
Indianapolis fastest-growing companies run the gamut
This year’s list of fastest-growing private companies in the Indianapolis area is a diverse lot, operating in industries ranging from human resources to office furnishings to construction to home health care and games.
Bank seeks to foreclose on local apartment complex
The owners of Arbor Green Apartments on the city’s northeast side owe nearly $15.9 million on a 2008 loan, according to court documents.
Fishers building owner seeks bankruptcy reorganization
Lantern Partners LLC owns the Freedom Mortgage Building once occupied by the failed Irwin Mortgage Corp. Lantern’s largest creditor is owed nearly $11.4 million.