Advertisement
HomeCollectionsForeclosure Auction
IN THE NEWS

Foreclosure Auction

FEATURED ARTICLES
ENTERTAINMENT
By Chris Kaltenbach chris.kaltenbach@baltsun.com | March 23, 2009
A foreclosure auction of Baltimore's beleaguered Senator Theatre has been set for 10 a.m. April 20 at the Baltimore City Courthouse, 111 N. Calvert St. Baltimore's 1st Mariner bank, which holds a mortgage of some $900,000 on the 70-year-old North Baltimore landmark, announced earlier this month that it would be foreclosing on the theater, after owner Tom Kiefaber had missed several months of scheduled payments. Kiefaber closed the theater March 15, saying he could no longer meet payroll.
ARTICLES BY DATE
BUSINESS
By Arthur Hirsch, The Baltimore Sun | September 8, 2014
Developer Patrick Turner again put off possible foreclosure on the South Baltimore waterfront he wants to redevelop as the parties agreed Monday in backruptcy court to an Oct. 24 hearing on all matters in the case. The delay gives Turner's Inner Harbor West LLC another month or so to attempt to come to terms with creditor Westport Property Investments LLC, which had asked the court to lift the automatic stay triggered by the bankruptcy that blocks foreclosure. If Turner and his creditors don't reach agreement before then, Judge Robert A. Gordon could be asked to decide the fate of Turner's aspiration to turn 43 acres on the Patapsco River into a project including homes, stores, hotels, a high-rise building and a park.
Advertisement
BUSINESS
By Edward Gunts, The Baltimore Sun | November 5, 2010
One of the last undeveloped parcels near Baltimore's Inner Harbor is likely to remain a parking lot for the foreseeable future after its owner filed for bankruptcy protection to prevent a foreclosure auction. An affiliate of Philadelphia-based ARC Wheeler Equities, owner of the former McCormick & Co. spice factory property at Light and Conway streets, filed for protection on Thursday. That resulted in the cancellation of a foreclosure sale that was scheduled to take place Friday.
BUSINESS
By Natalie Sherman | March 21, 2014
Developer Patrick Turner got more time to find an investor for his ambitious Westport waterfront project after a creditor filed an involuntary bankruptcy petition Friday against a company that owns part of the property, blocking a scheduled foreclosure auction at the last minute. It is the second time an involuntary bankruptcy suit stopped an auction of Turner's Westport land, which was used to secure a $30 million loan to his development team in 2007 from Citigroup Global Markets Realty Corp.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | September 1, 2011
The shuttered Northwest Ice Rink in Baltimore's Mount Washington neighborhood was sold Wednesday at a foreclosure auction to a top bidder for $490,000, including a mortgage payoff amount. The buyer, who was not identified, plans to use the Cottonworth Avenue facility for something other than an ice rink, said Paul Cooper of Alex Cooper Auctioneers Inc., which handled the sale. The ice rink, formerly owned by Northwest Family Sports Center Inc., closed in August 2008 after 50 years in operation.
BUSINESS
By Chris Kaltenbach and Chris Kaltenbach,chris.kaltenbach@baltsun.com | April 15, 2009
Monday's scheduled foreclosure auction of the Senator Theatre has been canceled, as city officials work on plans to acquire the 70-year-old North Baltimore landmark. C. Larry Hofmeister, an attorney representing mortgage holder 1st Mariner Bank, said Tuesday that there are no plans to reschedule the auction at this time. Baltimore Mayor Sheila Dixon announced Saturday that the city, which is the guarantor on $600,000 of the Senator's $950,000 mortgage, would seek to purchase the mortgage from 1st Mariner.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Staff Writer | September 14, 1993
The Washington company that owns the mortgage on the Colonnade hotel and condominium bought most of the complex at a foreclosure auction yesterday for $4.2 million. Only three of the building's nine remaining condominiums sold to third-party buyers.The complex was put up for auction after a partnership led by developer Richard Rymland defaulted on a $16 million mortgage on the West University Parkway property in Baltimore. Marine Midland Bank of Buffalo, N.Y., sold the loan to an affiliate of Washington-based Bresler & Reiner Inc., a real estate development company, for $10 million.
BUSINESS
By Stacey Hirsh and Stacey Hirsh,Sun reporter | February 7, 2007
Even on a frigid day like yesterday, the parking lot was full at Belvedere Square and the market was buzzing with customers. Melanee Stroovman and Randy Cornish, colleagues who work in Mount Washington but come to the market nearly every day for lunch, were among the patrons warming themselves with soup from Atwater's soup counter and bakery. "Whenever we come in, especially during the week ... these tables are always full," Stroovman said. Indeed, Belvedere Square in North Baltimore has seen a resurgence in recent years.
BUSINESS
By Amanda J. Crawford and Amanda J. Crawford,SUN STAFF | October 30, 1999
Peerce's Plantation filed for Chapter 11 bankruptcy protection yesterday, hours before a scheduled foreclosure auction that would have added it to the list of area restaurants to have closed in the last few months.The restaurant's lawyer said he anticipates that the court will allow the 62-year-old picturesque restaurant to continue operating while undergoing reorganization."To employees and customers it is business as usual," said Lawrence Yumkas, partner with Rosenberg, Proutt, Funk & Greenberg LLP of Baltimore.
BUSINESS
By Robert Nusgart and Robert Nusgart,SUN STAFF | March 25, 1998
A foreclosure auction of the Summerwoods townhouse development in Owings Mills was canceled yesterday after a group of unsecured contractors and suppliers filed two involuntary bankruptcy petitions in federal bankruptcy court against Manor Builders Inc. and Summerwoods One LLC, the owners of the project.It was a strategic move by 18 contractors and suppliers to stop the auction of the partially completed 64-unit development, according to lead attorney William M. Rudow, who represents Number One Supply Corp.
BUSINESS
By Natalie Sherman | March 18, 2014
U.S. bankruptcy judge Robert Gordon on Tuesday denied a bid for more time sought by Westport developer Patrick Turner, who has been trying for almost a decade to turn a blank swath of Baltimore's western waterfront into a vibrant, mixed-use community. Citigroup Global Markets Realty Corp., which made a $30 million loan to Turner's group that was due in 2010, holds “all the cards,” said Gordon, criticizing Turner's team for not providing a more detailed explanation of how they propose to move forward and why such a plan would merit an extension.
BUSINESS
By Natalie Sherman, The Baltimore Sun | March 17, 2014
A U.S. bankruptcy court is scheduled to decide Tuesday whether to grant more time to developer Patrick Turner, who has tried for 10 years to transform the empty Westport waterfront from grassy marsh to a bustling neighborhood. The decision could end efforts by Turner, who was hailed as a visionary for his 2006 plan to create a $1.4 billion community of offices, townhouses and hotels on about 42 acres along the western corner of the Middle Branch of the Patapsco River, but who has struggled to find the money to push the project forward.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | November 7, 2013
Maryland had the fifth-highest rate of new foreclosure cases in the nation during the summer, the number increasing from the spring even as many other states improved, the Mortgage Bankers Association said Thursday. It's not a new problem. The mortgage bankers' trade group said the effects of the mortgage crisis, which hit about six years ago, are lingering longer in Maryland and other states that require at least some court involvement before foreclosure auction is permitted. That "tends to slow things up," said the group's chief economist, Jay Brinkmann.
NEWS
Dan Rodricks | July 22, 2013
The $10,000 in U.S. savings bonds that Tom Karle discovered in a house he renovated in Northeast Baltimore are now in the possession of Robert Gorham, the young man for whom they were purchased in the 1990s. But an element of mystery lingers in the story. As reported in this space on July 9, Karle, a city landlord, came across the bonds in a house he had purchased from the city of Baltimore at auction. The end-of-group rowhouse was a mess, requiring Karle and his workers to remove seven truckloads of trash from it as they began renovations.
BUSINESS
By Steve Kilar, The Baltimore Sun | May 28, 2013
A bankruptcy judge has approved an auction of The Inn at the Black Olive, a boutique hotel in Fells Point, according to court records. The sale is scheduled for mid-June. First Mariner Bank foreclosed on the hotel's developers, the Black Olive Development Co. LLC, in January, listing mortgage debt of $5.4 million. A foreclosure auction of the 12-suite luxury inn on South Caroline Street was scheduled for late March but was canceled after Black Olive Development filed for bankruptcy.
BUSINESS
By Steve Kilar and The Baltimore Sun | February 11, 2013
The foreclosure auction of a 43-acre plot of waterfront land in Westport that was scheduled for Thursday has been canceled because an involuntary bankruptcy petition has been filed against the land's corporate owner, according to the auctioneer. Inner Harbor West LLC, a company affiliated with developer Patrick Turner, owes a construction firm and a land consulting company more than $200,000, according to the petition, filed last week by the consultant and builder. The auction had to be canceled because of the petition, said Andrew L. Billig, a member of the auction house A.J. Billig and Co. The land's trustees will have to convince the bankruptcy judge that the sale should proceed, he said.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | September 28, 2010
The historic Congress Hotel on Baltimore's west side, built in 1905 as one of the grande dames of city hotels and converted to housing nearly a decade ago, sold at a foreclosure auction Tuesday for $2.35 million. The renovated 36-unit apartment building was bought back by its lender, Congress Financial LLC. That entity is made up of "investors with significant local ties," said Y. Jeffrey Spatz, an attorney representing the winning bidder at the auction outside the Clarence M. Mitchell Jr. Courthouse.
NEWS
By Chris Kaltenbach and Jay Hancock and Chris Kaltenbach and Jay Hancock,chris.kaltenbach@baltsun.com and jay.hancock@baltsun.com | March 13, 2009
Senator Theatre owner Tom Kiefaber is "months" behind in loan payments to 1st Mariner Bank, the bank's chairman and chief executive confirmed yesterday. And with federal regulators pressuring the bank to get its own fiscal house in order, officials there had little choice but to call the loan and schedule a foreclosure auction. "The guy's in arrears big-time," Ed Hale said. "He hasn't paid for months." With the likelihood of a mid-April foreclosure auction looming, potential bidders for the Senator, a North Baltimore landmark since 1939, have started to surface.
BUSINESS
By Steve Kilar, The Baltimore Sun | June 14, 2012
A large waterfront parcel in Port Covington sold for $2 million at foreclosure auction Thursday to an investor who declined to identify himself. The site contains 5.2 acres of land and about five additional acres on two piers that jut into Winan's Cove. It is assessed for tax pursposes at $521,000. The site's previous owner, Struever Bros. Eccles & Rouse, defaulted on a multimillion-dollar mortgage, resulting in the trustee-ordered sale. The now-defunct developer owed more than $10.7 million for the land in South Baltimore off East Cromwell Street.
BUSINESS
Jamie Smith Hopkins | June 6, 2012
You could be forgiven for putting "shadow inventory" in the same category as the boogeyman or leprechauns -- made up. We've been hearing for years about the huge wave of foreclosed homes just about to hit the housing market. But the numbers sure look substantial. The owners of more than 90,000 Maryland homes were at least three months behind on their payments as of the end of March, more than 40,000 of which were in the foreclosure process. Total number of homes (all homes, not just foreclosed ones)
Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.