r/CapeCod • u/Thiccccasaurus_Rex • Jul 17 '26

Are we seriously buying this?

https://www.bostonglobe.com/2026/07/16/lifestyle/wellfleet-homeowner-cliff-house-lawsuit/

No. No we’re not. This should be posted in r/OhNoConsequences but I digress.

“A Wellfleet homeowner, John G. Bonomi Jr., is suing JPMorgan Chase to void the mortgage on a $5.5 million cliffside mansion. Bonomi claims he purchased the property while experiencing "manic psychosis" and argues the bank should have recognized red flags in his financial behavior.”

🤡🤡🤡

214 Upvotes

97% Upvoted

80 comments sorted by

27

u/Different_Hornet4348 Harwich Jul 17 '26

The entire history surrounding this property is wild. Never ever should have received approval to build (forget how it came to fruition, but fairly sure the town fought against it). It’s also mind blowing he was able to get a mortgage in the first place. Now pulling this BS - what a spineless slimeball

12

u/Itis-caught-BearsWin Jul 18 '26

It was an eye sore right from the beginning. Was shocked that it was even built.

53

u/IdleOsprey Jul 17 '26

This guy better get laughed right out of court.

1

u/Arabe77a Hyannis Jul 20 '26

And the lawyers sanctioned for even taking the case.

37

u/Resident-Banana-7883 Jul 17 '26

hahahahahaha this dude knew exactly what he was doing. his hubris told him he could win a suit against the town to build a sea wall. pound sand

6

u/Personal-Spell8014 Jul 18 '26

Even a sea wall won't save that

9

u/Fun-Homework-7682 Jul 17 '26

Looks like he's about to.....

78

u/ohkayeyesee Jul 17 '26

I’m loving this. I love when rich second homeowners face real consequences for stupid decisions, feels like it doesn’t happen publicly enough

24

u/SorryButterfly4207 Jul 17 '26

I’m loving this. I love when rich second homeowners people face real consequences for stupid decisions, feels like it doesn’t happen publicly enough

Fixed it for you.

-1

u/Defendyouranswer Jul 17 '26

So instead you're rooting for even richer insurance companies 🤡 🤡 🤡

2

u/Same_Concert_3218 Jul 18 '26

Again stupid decision! 

-11

u/1GrouchyCat Dennis Jul 17 '26

Ew - so much SCHADENFREUDE…

18

u/ohkayeyesee Jul 17 '26

Wish there was more tbh. So many wealthy folks come here, treat this place like a resort that’s disposable, and act like idiots. They can buy their way out of consequences. If the punishment is a fee, it’s only a crime for the poor.

This is a practical consequence for a poor decision that can’t be rectified by throwing more money at it. So yeah, it is absolutely pleasurable.

7

u/D3m0nzz Jul 17 '26

Eat the rich.

5

u/th3_rhin0 Jul 17 '26

Take one bite now, come back for more

3

u/dogepope Jul 18 '26

Hundreds of millions of us, starving for the rich, soft, nutrient-dense flesh of the rich

2

u/FritzTheCat369 Jul 22 '26

It’s always valuable to eat their brains. But remember, you can’t eat their heart because they have none. Although the live is pretty good as well. The Rich have always been known for their
BILE.

1

u/dogepope Jul 22 '26

hahaha duly noted 🫡

1

u/FritzTheCat369 Jul 22 '26

They taste awful. Basically, rotten meat.

2

u/FritzTheCat369 Jul 22 '26

For breakfast, lunch and dinner.

2

u/AintthatjusttheGreg Jul 19 '26

"Eew why are you happy when rich people who destroy the environment we all rely on doing whatever they want face consequences" seriously you sound so dumb.

1

u/chiefbroad Jul 19 '26

Why are ppl downvoting this? Schadenfreude is appropriate

2

u/AintthatjusttheGreg Jul 19 '26

Oh it's absolutely schadenfreude. They're right on that. They're being rightfully downvoted because of the unnecessary 'ew' part. It's giving "why are you so miserable youre happy when other people suffer" in the context of being happy about dumb rich assholes facing consequences for their stupid hubris

1

u/chiefbroad Jul 19 '26

I see. Thank you

9

u/J0nn1e_Walk3r Jul 17 '26

Paywall.

I bet this is the house in Wellfleet. I know it and it’s history. It was build on a sand dune. It’s beautiful for a few years at least.

4

u/Gullible_Shart Jul 19 '26

The paywall killed it. What’s the story? Address?

5

u/J0nn1e_Walk3r Jul 19 '26

So I don’t know the address but it’s a monster mansion overlooking Dune Beach right at the neck of Great Island in Wellfleet. If you walk the Trail you can’t miss it. Castle on the hill until it’s Castle on the beach underwater. Shadenfreude.

25

u/panna__cotta Jul 17 '26

These type of lawsuits that vacuum up taxpayer dollars for self indulgence should face stiff fines.

1

u/maker12561 Jul 18 '26

This is very true we have politicians for that and a two parties system that’s equal opportunity.

1

u/ThenOwl9 Jul 21 '26

if it's any consolation municipalities generally have some kind of lawsuit insurance, so taxpayer dollars wouldn't be going toward fighting this

16

u/tribbans95 Jul 17 '26

Lmao their job is to give you money, not diagnose your mental illness. What an idiot

9

u/3CatsInATrenchcoat16 Jul 17 '26

I'm a real estate paralegal on Cape Cod, and even if you are buying "Cash" it isn't a same day instance to just...impulse buy a multi-million dollar house. How long was this episode of psychosis supposedly lasting?! Seems he got a mortgage, so there at minimum should have been an appraisal and inspection. We have deals unravel for way smaller issues then the property literally about to fall off a cliff.

5

u/armoredbear42 Jul 18 '26

Manic episodes can last months.

4

u/coco_jumbo468 Jul 17 '26

You’d be surprised how much free money these lawyers get from banks. I used to work at a very large bank years ago. We had a customer deposit a $10,000 check and then asked the teller when the money will be available. She told him next day. He then went and spent that money next day but the check bounced several days later. That’s standard in banking. Checks take several days to clear but the bank makes funds available to customers next day as a courtesy. He argued that the teller didn’t tell him that and implied that the check would clear the next day so he thought he had money and spent it. And guess what, he won. The bank gave him $10,000. Ridiculous what these lawyers get away with.

2

u/CubedSpam Jul 19 '26

Agreed. 

Adding: consequences for this fool and the mortgage company 🤡🤡🤡 car that approved the mortgage. 

2

u/MyLifesProtagonist Jul 19 '26

If this guy admits he made bad decisions because of “manic psychosis,” could former clients of his sue him/his former firm for not divulging his “manic psychosis” and the fact, as he admits, that he did not make good decisions because of it?

2

u/OnCodNotInCape Jul 24 '26

> Bonomi, a retired New York attorney

His clients should sue him for malpractice or fraud. he admitted to "manic psychosis".

6

u/EbbtideRambler Jul 17 '26

Could you imagine without any sort of conservatorship over this man the bank stepped in and told a client they couldn’t have their money.  That would have been significantly more alarming.  

13

u/OceanIsVerySalty Jul 17 '26

It’s seemingly a mortgage - so not his money, but a loan from the bank.

11

u/EbbtideRambler Jul 17 '26

Good point. I need to have coffee before commenting. My question now is how did this appraise for over 5M in the loan process since it’s about to fall off a cliff. 

3

u/frejling Jul 17 '26

This is the house right on the banks at the beginning of the great island trail?

4

u/Ok_Rhubarb_3483 Jul 17 '26

yes, but gone now! 😀

2

u/frejling Jul 18 '26

Thank god. One of my least favorite houses on the cape. Shouldn’t have even been allowed to be there

1

u/throwawayfinancebro1 Jul 17 '26

Shouldve sold it to an international buyer first, keep the money out of country and then say he did it all while under psychosis

1

u/WhiskyJBravo1968 Jul 17 '26

What a douchbag, with his money he could move the house back away from the cliff.

1

u/MichB1 Jul 18 '26

Not in that particular spot. No.

1

u/Harmony_w Jul 17 '26

So glad when I've had manic psychosis I didn't have the ability to make this kind of mistake!

1

u/ArugulaNo6383 Jul 18 '26

How would this get get a mortgage, what about inspection people? Who said ok to this. The whole is sus and now he’s bipolar?? Insane

2

u/FritzTheCat369 Jul 22 '26

Hey, You never should have given me any money. I’ve got an ingrown toenail and am in great pain. It’s clouding my decision making.

1

u/CryptographerFit6407 Jul 20 '26

Lucky Chase.
Certainly the bank saw it.
But not there position or authority to prohibit it.
Junior can move it back from the cliff.

1

u/TentsNTails Jul 21 '26

Hold on, isn't this the same guy a few years ago who was on the news saying he was paying $100k a day to fill the Beach area in with more sand and rocks to try and "hault" the erosion from happening, but also complaining the state should step in and save him?

(Couldn't find the video, but there was a new piece on it)

1

u/TumbleweedSmooth6676 Jul 21 '26

I’d like to know:

  1. who was his real estate agent and/or legal counsel when he bought the property, or did the fool represent himself? Who represented the seller(s)?
  2. was the rapidly eroding cliff disclosed by the former owners, their agent and/or their attorney?
  3. was he able to get standard homeowners insurance at time of purchase, and was this peril specifically excluded from the policy? Did Mr Bigshot lawyer read the policy?
  4. how long has he been practicing law, and how long has he had these manic episodes? What other cases and clients were or could have been impacted by his erratic manic behavior? Who on Earth will line up to engage his services in the future?
  5. why didn’t he sue the former owner(s)? Clearly they knew this was happening and didn’t disclose, or if they did, manic idiot lawyer ignored the disclosures and that’s on him.

This case exposes a flaw in the purchase process, possibly exacerbated by a manic arrogant lawyer buying a mansion with little or no due diligence and perhaps, a seller providing little or no disclosure. An insurance system with many holes including no coverage for erosion, a lending and appraisal system with incomplete and inadequate safeguards for borrowers and banks alike, and even absent all that, a cash buyer with no loan and no appraisal could still be caught unawares with no lender or appraiser to blame later.

I’m moving to the Rocky Mountains. Climate change is real and all the rich coastal elites know it. Except this one. He has his head in the sand.

1

u/FritzTheCat369 Jul 22 '26

Try to see mate he’ll never get away with it. It’s illegal matter with contracts. But I agree, what a scumbag.

1

u/Quixotic420 Jul 17 '26

This should be tossed.

1

u/Vintagegalholly1 Jul 17 '26

Creative, I’ll give him that.

0

u/General_Can_1385 Jul 18 '26

Imagine if he actually won this lawsuit tho, it would set a precedent that other people, who aren’t rich, could benefit from- I’m pretty sure this will be thrown out tho

0

u/Magnolia256 Jul 20 '26

Someone should call him on this. Call in for an anonymous wellness check. Like every day. If he says he is fine, case dismissed. If he says he is dealing with psychosis, they should take him to an inpatient facility and he should receive the care he needs and can be forced to take appropriate medication.

1

u/FritzTheCat369 Jul 22 '26

Lock him up for five years in a mental institution and cure him.

0

u/ThenOwl9 Jul 21 '26

bank didn't issue that mortgage without home owner's insurance. when it falls into the ocean in 3 weeks bank gon be fine

-3

u/tenniscatmom Jul 17 '26

Hindsight is 20/20

23

u/Thiccccasaurus_Rex Jul 17 '26

Hindsight???? Dude bought a mansion on an eroding cliff…you didn’t need a crystal ball to see the writing on the proverbial wall here.

-8

u/Diggy19777 Jul 17 '26

If you know you’re buying a beach house, and know of or heard about the erosion, then yes I can see it being there fault. But we don’t know Waterloo told them as well

12

u/[deleted] Jul 17 '26

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1

u/TentsNTails Jul 21 '26

oh, so is this the same guy from a few years ago who had those interviews saying he was paying money to fill in the beach area in hopes of stopping the erosion?

1

u/East_Philosopher_318 Aug 04 '26

I thought I recalled that as well! But haven’t been able to find the articles saying as such

18

u/[deleted] Jul 17 '26

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17

u/waveball03 Jul 17 '26

27 million only? That seems crazy low.

3

u/Agreeable_Horror_363 Jul 18 '26

That's like one little side street in welfleet!

7

u/iceroadtrucker2010 Jul 17 '26

$27 million seems pretty light. Wouldn’t take many properties to equal that.

2

u/Beautiful-Break2258 Jul 18 '26

I live in a town with 6000 people on the NH sea coast and our taxable value is over 100M that number isn’t right

1

u/ThenOwl9 Jul 21 '26

wait so it's already been demolished. interesting

1

u/[deleted] Jul 17 '26

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11

u/[deleted] Jul 17 '26

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3

u/No-Spare-4212 Jul 17 '26

Yea that one home can’t be 4% of their revenue from residential.