LENOX, Mass. (AP) - Creditors have agreed to extend the foreclosure deadline by six months for the home of Edith Wharton after the estate raised more than $875,000 in 10 weeks.
The deal will enable the author's home in Lenox, known as The Mount, to plan for full operations during the peak tourist season in an effort to raise $3 million before Oct. 31. If they do that, the estate would receive an additional $3 million in matching funds to enable it to restructure its debt.
Creditors previously granted monthly foreclosure extensions for the 35-room mansion that Wharton built in the early 1900s.
Wharton was the first woman to win the Pulitzer Prize for her 1920 novel "The Age of Innocence." She left the estate in 1911 to move to France, where she died at the age of 75.
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