Top artist in foreclosure; He owes almost $1 million
| Thursday 19 November 2009 4:08 pm
Bruce Helander (Michele Sandberg/Special to Page2Live)
West Palm Beach collage and pop artist Bruce Helander, a darling among Palm Beach’s art collectors and a popular figure on the society circuit, may soon lose his beloved classic home.
The bowler hat-wearing artist and his wife, Claudia, were notified last week that the U.S. Bank National Association filed a notice to have the home sold on the proverbial courthouse steps unless the couple comes up with $945,033.
That includes the principal on an $882,970 mortgage in 2006, and more than $2,060 in late fees.
Helander bought it in 1998 for $195,000 but, according to court records, routinely borrowed against it. The digs are well-known for being the stage for some of the best parties in town and its second-to-none lush backyard.
Helander, whose art has been shown nationally, was the first hipster to buy a home in one of the downtown’s most neglected and blighted areas. He was soon followed by dozens of others, and Grandview Heights became livable again.
Helander listed the house in 2005 for $1.2 million.
“We didn’t know the bank was filing,” Helander said. “We were negotiating a new traditional mortgage. But this is a classic case of being upside down. The house appraised at less than $500,000.”
[...] Top artist Bruce Helander in foreclosure; He owes $1 million … [...]
another starving artist
Who cares!!!!Does anyone feel sorry for someone who kept borrowing against their home to have “lavish parties and a lush backyard” I’m sure Obama’s stimulus will bail him out at our expense
Let’s figure out a way to blame Obama for this!!!!! It’s all his fault!!!!!!!
[...] Top artist Bruce Helander in foreclosure; He owes $1 million … [...]
I’ll give him $196k for it.
it’s gus renny’s fault, he gave him one of his upside down mortgages.
As Director on a condo board I always love when people say “I didn’t know I was in foreclosure”. Maybe it was in one of the collection letters we sent through USPS or in the certified letters our attorneys sent. Yeah, he didn’t know…… riiiiiiiiiiiight.
Alan,
Anybody that is on a condo board is a low life Communist!
1.2 million ??? thats a steal !!! Ill take it….
signed
Nikolas Cage
At least somebody can make a living on other peoples pain. Keep up the sleazy work Jose amigo. Perhaps you can do a video blog of celebrity hemorrhoids. Start with your own head shot.
Sorry to hear that about Bruce…nice guy and nice picture of him
Regardless of financial issues or negative gossip, my heart goes out; Bruce is a wonderful artist and great man.
He seems to be rich.
I would love to have this house. Grandview is one of the coolest neighborhoods in all of South Florida. Seriously, the corner this house sits on looks like something from a horror flick. Not perfect but really quaint. He was lucky to live there at all. Plus, it will be a couple years before he is actually evicted! Life can be good when you don’t have to pay a mortgage for 3 years.