Sad news for a Northwest Indiana homebuilder.

The Post-Tribune reports that banks have filed mortgage foreclosure lawsuits against Harvest Homes.

The financially beleaguered Harvest Homes, a subdivision developer for Porter and Lake counties based at 954 Eastport Center in Valparaiso, is being taken to court for about $2 million it owes on homes it has built.

Two banks are foreclosing on the mortgages, Liberty Savings Bank, based in Florida, according to their lawyer Timothy Buckley, and the local Centier Bank.

Technorati Tags: economy, real estate

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