A Massachusetts man is feeling some buyer’s remorse after securing a $5.5 million mortgage on a mansion poised to fall into the Cape Cod Bay.
The man, John Bonomi Jr, first made headlines five years ago when he purchased the sprawling 5,817-square-foot estate against warnings from area conservationists, who advised that the beach was eroding at a rate of six feet per year as rising sea levels take their toll.
Bonomi’s house, meanwhile, sat just 12 to 14 feet away from the rapidly-disappearing escarpment — and that was 2021.
Fast forward half a decade, and the situation — not to mention the mansion’s foundation — has only deteriorated as the continual lashing of ocean waves takes its toll. According to the Boston Globe, Bonomi is now trying to recoup his costs by filing suit against JP Morgan Chase, the bank that originally serviced his ill-fated mortgage.
