Do you banks, or loan servicers want to be in the toxic Chinese drywall home foreclosure business forever in Florida, Alabama, Mississippi, Louisiana, Virginia, and Southeast Texas?
(PRWEB) May 18, 2011
The Chinese Drywall Complaint Center says, "The imported toxic Chinese drywall disaster in places like Florida, Alabama, Mississippi, Louisiana, Virginia, and Southeast Texas is the worst man made environmental disaster to ever hit the US, and unless someone steps up to the plate pretty soon, its just going to get worse for everyone. Everyone includes the completely innocent homeowners, who would have never knowingly purchased a toxic Chinese drywall home. Everyone also includes completely innocent children of homeowners stuck in these toxic Chinese drywall homes." The group says, "We think it is insanity for major US banks, or loan servicers to continue to pretend that the toxic Chinese drywall environmental disaster is just going to go away on its own. Unless these homes are properly remediated, the disaster never goes away, it simply festers, and it gets worse." They say, "We believe the time has come for major US banks, and loan servicing companies to step up to the plate to help these homeowners. Meaningful help for homeowners stuck in a toxic Chinese drywall home in Florida, Alabama, Mississippi, Louisiana, Virginia, and Southeast Texas would involve a substantial loan modification, along with what is called a 203-K mortgage. The unique feature of a 203-K mortgage program is it allows for a purchase price, and remediation built into the mortgage product." http://ChineseDrywallComplaintCenter.Com
The Chinese Drywall Complaint Center says, "In places like Lee County, Florida, the Assessors Office has some toxic Chinese drywall homes valued at the land cost only. The actual home, or condo is worth zero. We think this should be a huge wake up call to all major US banks, or mortgage loan servicers. Do the pension funds, or investors know their securitized mortgage is worth nearly zero?" They also say, "At the same time we are horrified with the prospects of Florida real estate flippers buying toxic Chinese drywall foreclosures, and then doing a low end remediation-doomed to fail, or even worse, no remediation on the foreclosure, and then spinning the home to a new buyer, typically from out of state, or who has never heard of toxic Chinese drywall before. Is anyone in city, county, state, or the federal government remotely worried about any of this? Are the Fed's ever going to show up to the toxic Chinese drywall disaster?" http://ChineseDrywallComplaintCenter.Com
The Chinese Drywall Complaint Center is saying, "Toxic Chinese drywall foreclosures can be great investments, if the investors, or home purchaser understands what they are doing, and the critical aspect of a proper home remediation. However, if the investor, or purchaser fails to do it right, the home ultimately becomes another foreclosure. We are doing everything possible to change the Florida toxic Chinese drywall foreclosure flipper quick buck, or go cheap mentality into something sane. But, it really is time for major US banks, and loan servicers to show up, by helping existing homeowners stuck in toxic Chinese drywall hell, and or insuring that toxic Chinese drywall foreclosures go through a rigorous remediation before they are allowed to be mortgaged to a new home purchaser, or investor." http://ChineseDrywallComplaintCenter.Com