Manic Episode, Mortgage Meltdown | Boston News

John Bonomi, who bought a cliffside mansion in Cape Cod for $5.5 million while in a manic episode, is now suing JP Morgan Chase to void his $3.85 million mortgage — claiming the bank knew or should’ve known he was mentally unfit to handle such a massive loan. The house, nicknamed the “Blasch house,” was notorious for erosion and was demolished in 2025 after becoming a safety hazard. Bonomi’s lawyer says he never saw the high appraisals that justified the loan, while the land’s value has since plummeted to just $385,000. The bank denies wrongdoing, and experts say proving mental incapacity and bank liability is legally daunting — turning this real estate disaster into a courtroom showdown with big questions about responsibility, mental health, and financial ethics. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/bc453c87e123457a