Orlando Real Estate News

WASHINGTON - Nov. 6, 2009 - A bipartisan group of senators from states hard hit by defective Chinese drywall is seeking a Senate resolution to urge banks and mortgage lenders to offer homeowners some relief.

The resolution introduced Wednesday carries no penalties but encourages lenders to delay or suspend mortgage payments - without penalty - for families with contaminated drywall. The lawmakers noted that some homeowners are juggling two housing payments because the contaminated drywall has made their homes uninhabitable.

"The dangers and health risks posed by contaminated drywall have forced thousands of families out of their homes and into temporary living situations, and many such families are unable to afford an additional financial burden," the resolution states.

"Many homeowners are stuck with contaminated drywall in their homes and they need all the help they can get," said Florida Sen. Bill Nelson, who has been pushing the Consumer Product Safety Commission since February to investigate imported drywall. "This is just one more way we're trying to get them some relief."

The senators estimate some 1,300 homeowners in 26 states and the District of Columbia are dealing with health and safety issues linked to the use of contaminated drywall.

Homeowners have reported a range of problems with corrosion and odors, as well as headaches, rashes and nosebleeds.

A federal task force investigating the problem last week reported it had found elevated levels of two elements in some Chinese-made drywall: sulfur and strontium. But it still does not know whether there is any link between the import and the problems homeowners are experiencing.

The results of additional tests are expected later this month.

Sens. Nelson and George LeMieux from Florida; Mary Landrieu and David Vitter of Louisiana; and Mark Warner and Jim Webb of Virginia introduced the resolution.

For information on great real estate buys in Orlando and nearby suburbs,
contact the Orlando Property Group, your short sale and luxury home specialists.

Or Search Now for Real Estate & Homes in the Orlando Florida Area

Looking for specific information regarding Orlando Florida real estate prices and communities? Get Your Free Market Snapshot

Read Also: Homebuyer Tax Credit is About to be Extended

Read Also: Real Estate in Asia and Latin America Heats Up

Read Also: Toxic Asset Program Gets Ok From Treasury

Read Also: Feds Have Arrested More Than 100 People for Mortgage Fraud

If you want to sell your Seminole County or Orlando area home in the next 6 to12 months, now is the time to begin putting your plan into place while time is still on your side. Please contact us for any real estate assistance you may need.

We're experts at putting people together with homes they love and can afford. Contact us today for information on Orlando and Seminole County real estate, Orlando & Seminole County homes for sale, Orlando & Seminole County relocation information, a free market analysis of your Orlando area or Seminole County home or statistics on homes in Orlando & Seminole County Florida or the surrounding Central Florida area, including Seminole County, Orange County, Lake County and Volusia County. We're always available to answer your questions.

Related Posts