Bank Financed Home Sliding Into Ocean

A homeowner in Wellfleet, Massachusetts, bought a house perched on a rapidly eroding bluff with a mortgage loan that is now subject to legal challenge. The house was demolished before it fell into Cape Cod Bay due to coastal erosion, which was well documented and known prior to purchase. The case raises questions about whether lenders and appraisers adequately accounted for environmental hazards like bluff retreat in high-value coastal property transactions.

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