Home of former St. Clair County clerk Delaney to be auctioned on Aug. 4

Former St. Clair County clerk Bob Delaney preserved ownership of his home by declaring bankruptcy in May, but not for long.

Mortgage holder JP Morgan Chase Bank, which canceled a public auction of the home on May 22, plans to put it up for bids on Aug. 4.

The bank published a sale notice in the Fairview Heights Tribune on July 10, offering the property at 48 Woodford Way in Collinsville, in "as is" condition.

The notice provided that, "The property will not be open for inspection and plaintiff makes no representation as to the condition of the property."

The bank calculated the principle balance at $215,856 as of last Dec. 12, plus about $15,000 in unpaid taxes and escrowed deficiency.

In bankruptcy court, the bank estimates the value of the property at $215,000.

Delaney and wife Janet borrowed $202,000 from the bank's predecessor, Washington Mutual, in 2002. The Delaneys fell behind, and JP Morgan Chase Bank modified the loan at $218,035 in 2010.

When the Delaneys fell behind again, the bank filed a foreclosure suit but quickly dismissed it.

The bank sued again last August, after Delaney resigned as Clerk.

Circuit Judge Stephen McGlynn ordered foreclosure in February. After adding court costs, legal fees and interest, he entered judgment of $236,537.

The Delaneys filed a bankruptcy petition in May, declaring liabilities of $417,584.

They listed assets of $2,539,139, about five times their liabilities in the form of future pension payments.

Their lawyer Stephen Clark of Belleville, checked a box showing the Delaneys would surrender their home.

In addition to the mortgage, the Delaneys owe more than $90,000 to Commerce Bank and more than $20,000 to Bank of O'Fallon.