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IU Credit Union Reaches Agreement With Pendragon Properties Owner

Pendragon

Photo: Steve Burns

Nine rental properties owned by Pendragon Properties faced foreclosure earlier this year.

A judge granted a motion Tuesday to continue IU Credit Union’s foreclosure case against Pendragon Properties owner Jeff Jones.

The continuance comes after an attorney for the credit union says it reached a forbearance agreement with Jones, who is now caught up on payments. The agreement stalls any foreclosure action and, if Jones remains current on payments, the case will be dismissed. IU Credit Union must update the court on the status of the case on or before May 8, 2018.

Court documents show Jones was more than $300,000 behind in loan and property tax payments earlier this year for several properties.

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