AURORA, Ohio — A Portage County man has spent the better part of 15 years fighting to stay inside a county-appraised $4.5 million mansion, and a court has now approved his eviction.
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Louis Telerico has been living in a 17,000-square-foot home in Barrington Estates, an exclusive residential area in Aurora, near the 17th green of a golf course.
"It's a one-of-a-kind property," Telerico said. "I built it."
A foreclosure on the property began in August 2011. Court records show Telerico filed numerous motions over the years, including multiple bankruptcies, appeals, and other filings. The foreclosure took 14 years before the bank finally acquired the property in 2025, then sold it to investment company ERADAL.
A 14-YEAR FORECLOSURE AND WHAT MADE IT POSSIBLE
Cleveland attorney Mark Rodio, a partner at Frantz Ward who has worked on real estate cases for 30 years, said he has never seen a foreclosure take as long as Telerico's.
Rodio said in cases like this, borrowers will "file things that other people or parties wouldn't necessarily file and they have to find a lawyer that's also willing to kind of stretch those boundaries — there's a lot of procedural ways to slow things down."
It is important to note that Telerico has not been found to have done anything illegal.
Rodio said typical home foreclosures last one, maybe two years — not 14.
"How fair is it to the people who are owed the money?" News 5 asked.
"It's not fair at all," Rodio said. "It has nothing to do with fair, of course."
CONDITION OF THE PROPERTY
Greg Cutting, the project manager working with ERADAL, walked News 5 around the property and described what they found.
"It's a really long time. You know, that caught my interest," Cutting said. "It's a beautiful home and it's a beautiful backdrop. It's just everything has gotten overgrown and diseased and has covered it up."
Cutting said that while Telerico remains in the home, ERADAL has already applied at least 25 gallons of weed killer, marked trees for removal, and identified cracks in the roof's slate along with other damage that has not been addressed.
"We're just moving forward with the legal process of posting 3-day eviction notices," Cutting said. "He didn't answer the notices."
THE EVICTION HEARING
At a recent eviction hearing, a magistrate approved the eviction of Telerico. However, Telerico's attorney, Mark Graziani, indicated the situation may not be fully resolved.
"We are in negotiations to settle this whole thing with a purchase agreement," Graziani said.
Graziani also noted earlier in the hearing that his client "just doesn't want this accelerated faster than he can get financing."
After the hearing, News 5 approached Telerico directly.
"You've been able to stay in the house for numerous years," News 5 began.
"I refuse to do any kind of interview," Telerico replied.
When asked whether he had any comment for those he still owes money to, Telerico said, "That's to be determined."
Telerico told News 5 he plans to live in the house until he dies and said he believes he will be able to secure financing.
WHAT HAPPENS NEXT?
Eric Lindsey, the president of ERADAL, said he is willing to work with Telerico, but the timeline is now in Telerico's hands.
"I'm not so confident," Lindsey said when asked whether Telerico could come up with the money. "If he doesn't come up with a way to make this happen, then it will be over for him, and we'll go in and clean up the property and make it nice."
News 5 will continue to follow this story.
