Top artist Bruce Helander in foreclosure; He owes $1 million

By at 19 November, 2009, 3:08 pm

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 a $882,970-mortgage in 2006, and more than $2,060 in late fees. Helander bought 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.”

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Top artist Bruce Helander in foreclosure; He owes $1 million

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