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Foreclosure Sale

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BUSINESS
March 6, 2010
A foreclosure sale of the Hollander 95 Business Park in Northeast Baltimore was canceled this week, after partners in the venture filed for bankruptcy protection and stopped the proceedings, according to auctioneer Paul Cooper of Alex Cooper Auctioneers. Hollander Rock LLC, which bought the 51-acre site for $4 million from the city, had planned to build a warehouse, distribution and manufacturing center. Only the 82,000-square-foot warehouse has been completed, and tenants have moved into half of the building.
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BUSINESS
Jamie Smith Hopkins | October 16, 2013
Baltimore-based Civil Justice is offering free legal consultations for Marylanders who lost their home or are facing other foreclosure-related financial difficulties. The new program, “Foreclosure Recovery: On Track to Financial Health,” will focus on addressing harmful ripple effects of mortgage default, from municipal liens and debt collection to credit problems. The nonprofit Civil Justice hopes to reach 300 to 600 people. A panel of attorneys Civil Justice trained for the program will help consumers fix errors in credit reports, understand their bankruptcy options and determine whether there's a looming “ deficiency judgment ” for the amount owed on the former mortgage that wasn't covered by the foreclosure sale.
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BUSINESS
By Edward Gunts | May 4, 1991
Businessman Edward Butler lost control yesterday of his 5-year-old catering facility, the Palladium, when representatives of the Resolution Trust Corp. acquired it at auction with a bid of $1.4 million.The auction of the castlelike property at 2900 Liberty Heights Ave., one of the few minority-owned catering facilities in Baltimore, was a foreclosure sale on behalf of John Hanson Federal Savings Bank, which was placed in conservatorship last month and is now under RTC control.Hanson began foreclosure proceedings more than two years ago, claiming that Mr. Butler's group had defaulted on a loan of more than $1.4 million.
BUSINESS
By Steve Kilar | December 5, 2012
The deadline is about three weeks away for homeowners to request a free, independent review of foreclosure actions that were in process during 2009 or 2010. The program, Independent Foreclosure Review, was set up last year by the U.S. Treasury Department. It applies to mortgages that were serviced by one of 27 companies and went into foreclosure during a two-year period when foreclosure processes were under a cloud of suspicion. The program stems from orders issued by the Treasury to “14 large residential mortgage servicers and two third-party vendors,” according to a statement from the Treasury's Office of the Comptroller of the Currency.
NEWS
By Eric Siegel and Eric Siegel,SUN STAFF | February 16, 2005
A nonprofit corporation headed by an East Baltimore bishop filed a bankruptcy petition yesterday, halting the scheduled foreclosure sale of a low-income apartment building it owns moments before the auction was to begin. The auction of the 102-unit Berea Apostolic Apartments in Berea, sought by the U.S. Department of Housing and Urban Development because of the owner's failure to maintain adequate funds to make needed repairs on the federally subsidized property, had drawn 18 bidders to the steps of the Clarence M. Mitchell Jr. Courthouse downtown, 11 of them from out of state.
BUSINESS
By Laura Vozella and Baltimore Sun reporter | September 16, 2010
From the Dining@Large blog: It looks like Timothy Dean has pulled a rabbit out of his toque. Hours before Prime Steakhouse was to go on the auction block, the foreclosure sale has been called off. A lawyer for the former "Top Chef" contestant told me yesterday afternoon that the auction of Dean's Prime Steakhouse wasn't going to happen. But it was still listed on the auctioneer's website, and no one there was calling back to say some last-minute deal was being worked out. I checked the Jonathan Melnick Auctioneers site again just now, and it says the foreclosure sale has been canceled.
ENTERTAINMENT
June 7, 2011
It's nice to know Sheila Dixon and the city of Baltimore weren't alone in showering favors on developer Ron Lipscomb. In a foreclosure sale just completed in May, Lipscomb lost a 4,000-square-foot Canton warehouse he'd hoped to redevelop. Real estate records for the property, at 2114 Cambridge St., indicate that Lipscomb's Doracon Contracting bought it in September 2005 for $640,000.  Three months later, Doracon sold the warehouse in what's described as an arms-length sale to Lipscomb for a low, low $144,633.
BUSINESS
By David Conn | August 31, 1991
The developer of the Harbour Gates apartment complex in Annapolis has gone into default on its construction loan, tenants learned this month, and the bank has scheduled a foreclosure sale for next month.Residents of the 516-unit development, on Bestgate Road near the Annapolis Mall, received notice from attorneys for the project's lender that all rent payments should be made to an agent for the bank, San Diego-based HomeFed Bank.Unless HomeFed and the developer, Catwil Corp. of Stockton, Calif.
NEWS
By Michael A. Fletcher and Michael A. Fletcher,Evening Sun Staff | December 7, 1990
Baltimore stands to lose its entire $4.5 million investment in the Belvedere Hotel if it is unable to resurrect a deal to sell the landmark to a Florida developer.Judah Hertz, the developer who planned to buy the Belvedere, has "walked away" from his agreement to buy it for $5.5 million, Kenneth F. Davies, a trustee appointed to oversee the hotel's operation, said yesterday.If the sale to Hertz had gone through, the city would have recouped $1 million and taken control of the Belvedere's restaurants and ballrooms, which city officials said are worth at least $3.5 million.
BUSINESS
By Edward Gunts | January 26, 1992
Fourteen unsold residences and adjacent land at the Villages at Homeland, a 9-acre town-house community in North Baltimore, will go on the auction block Feb. 22 in a foreclosure sale on behalf of Loyola Federal Savings and Loan Association.U.S. Bankruptcy Court Judge James Schneider ruled this month that the auction could proceed, despite a request by the developers that they be allowed to retain control of the property.Homeland Acres Limited Partnership, a group headed by builder Jack Steffey, filed last summer for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code, after Loyola Federal initiated foreclosure proceedings.
BUSINESS
By Steve Kilar, The Baltimore Sun | May 16, 2012
Eastpoint Mall, in southeast Baltimore County, is being sold at auction on May 29, the auctioneer announced. Tidewater Auctions LLC will conduct the foreclosure sale at 11 a.m. in front of the Bosley Avenue entrance of the Baltimore County Circuit Court in Towson. The auction is the result of a lender's lawsuit against Thor Equities LLC, the New York-based investment firm that bought the mall in 2006. There is 850,000 square feet of leasable space in the shopping center, situated on a 67-acre parcel between Eastern Avenue and North Point Boulevard.
BUSINESS
Jamie Smith Hopkins | May 11, 2012
All things being equal, the purchase price of a short sale will be less than a regular home on the market, and a foreclosure will be lowest of all. Here's the breakdown -- on average -- for the Baltimore region in April: Bank-owned home: $144,000 average sale price Short sale: $206,000 Non-distress deal: $307,000 So you can see why a big increase in foreclosures might pull the average price down -- and why now, with the big decrease...
BUSINESS
By Steve Kilar, The Baltimore Sun | May 8, 2012
A large chunk of waterfront property in Port Covington is set to go on the auction block in June after its previous owner, Struever Bros. Eccles & Rouse, defaulted on a multimillion-dollar mortgage. The now-defunct developer owed BB&T Bank more than $10.7 million for the roughly 10-acre parcel in South Baltimore off East Cromwell Street. A trustee-ordered sale is scheduled June 14. The foreclosure sale brings new hope to an area filled with weedy lots — an area where developers have struggled for decades to get a foothold.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | April 10, 2012
The sharp and likely temporary drop in the number of foreclosed homes for sale in the Baltimore region is making life easier for owners trying to find a buyer. The number of home sales in the metro area that are not distress deals — neither foreclosures nor short sales — jumped about 25 percent in March from a year earlier, according to numbers released Tuesday by Metropolitan Regional Information Systems, a Rockville company that runs the area's multiple-listing service. With far fewer bank-owned homes for sale, March buyers purchased about half as many foreclosures in Baltimore and the surrounding counties as their counterparts a year earlier.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | November 7, 2011
A former downtown Baltimore office building that was being converted to a Staybridge Suites Hotel is scheduled to go on the auction block Nov. 30. The foreclosure sale will be held on the site of the 11-story Jefferson Building at 101 N. Charles St., according to auctioneers GoIndustry DoveBid. In August, a U.S. Bankruptcy Court judge cleared the way for lender RL BB Financial LLC to foreclose. Work on the hotel stalled during the financial downturn, but the lender was prevented from foreclosing after the developer, 101 Charles Street LLC, filed for Chapter 11 bankruptcy protection in August 2010.
ENTERTAINMENT
June 7, 2011
It's nice to know Sheila Dixon and the city of Baltimore weren't alone in showering favors on developer Ron Lipscomb. In a foreclosure sale just completed in May, Lipscomb lost a 4,000-square-foot Canton warehouse he'd hoped to redevelop. Real estate records for the property, at 2114 Cambridge St., indicate that Lipscomb's Doracon Contracting bought it in September 2005 for $640,000.  Three months later, Doracon sold the warehouse in what's described as an arms-length sale to Lipscomb for a low, low $144,633.
BUSINESS
By Edward Gunts | November 20, 1991
The dockmaster's office and sales center of the Baltimore International Yachting Centre and a tract of land formerly owned by the J. S. Young Licorice Co. will be put up for auction tomorrow as part of a sale of nearly 100 boat slips off the 2500 and 2700 blocks of Boston Street in Canton.The auction, to be held by Atlantic Auctions at 11 a.m. at 2501 Boston St. and at noon at 2701 Boston St., is a foreclosure sale on behalf of Perpetual Savings Bank of Alexandria, Va.The bank's attorneys initiated foreclosure proceedings this year against the developers of the International Yachting Centre, claiming in suits filed in Baltimore Circuit Court that four entities affiliated with the marina owed the bank more than $3.4 million as of July 12 and that interest was accruing at the rate of $918.
BUSINESS
By Edward Gunts, The Baltimore Sun | February 15, 2011
A hillside property with a view of Baltimore's harbor and skyline was sold at auction Tuesday for $715,000 to an unnamed buyer, whose representative said he expected the land would be developed for residential use. The auction of the 8.8-acre parcel on Waterview Avenue between Westport and Cherry Hill was a foreclosure sale on behalf of Columbia Bank. Tranzon Fox was the auctioneer. The city of Baltimore in 2004 approved plans for a project called Waterview Overlook, which was to contain condominiums and townhouses on the site, but construction never began.
BUSINESS
By Alejandro Lazo and Alana Semuels, Tribune Newspapers | October 8, 2010
With mounting calls for a national moratorium, Bank of America said Friday that it would halt the sale of foreclosed homes indefinitely in all 50 states as the nation's largest lender widened its investigation into how it seized homes from troubled borrowers. The freeze, which takes effect Saturday, came after lawmakers, consumer groups and civil rights organizations called for a moratorium on bank seizures. State attorneys general across the country have also called on lenders to prove they are complying with state laws as they process record numbers of repossessions.
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