Mount faces loan crisis

LENOX — The president of The Mount, the historic home of famed American novelist Edith Wharton, said that Berkshire Bank is threatening "imminent foreclosure" against the Plunkett Street tourist destination but has given the organization until March 24 to raise $3 million.

Stephanie Copeland, who also serves as The Mount's CEO, said yesterday that the nonprofit missed a $30,000 scheduled mortgage payment on Feb. 11 — a first-time missed payment — and that the bank sent a certified letter putting the organization on notice.

Copeland would not provide a copy of the bank's letter, and bank officials could not be reached late yesterday to comment on the foreclosure notice.

Last April, the bank recorded a mortgage of $5.245 million against the property, reflecting an amendment and consolidation of two prior loans.


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