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Foreclosure possible for Wharton estate; $3 million needed by March deadline

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From: The Boston Globe
Date: 20080224
Author:Charles McGrath New York Times News Service

The Mount, Edith Wharton's estate in Lenox, is in danger of being put in foreclosure, says Stephanie Copeland, president of Edith Wharton Restoration, the organization that owns and maintains this stately residence and its surrounding gardens.

Since 2002, Copeland said, the Mount, which is open to the public, has covered operating expenses by borrowing from the Berkshire Bank in nearby Pittsfield. It now owes the bank some $4.3 million, and in mid-February, when it failed to meet a scheduled monthly payment of $30,000, the bank sent a notice that it intended to start foreclosing unless the ...

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