Virginia’s two U.S. Senators, Mark Warner and Jim Webb, want banks to give homeowners affected by the Chinese Drywall crisis a break on their mortgage payments.
Their resolution introduced in the U.S. Senate on November 4 encourages lenders to delay or suspend mortgage payments without penalty for families with contaminated drywall. Many of these families whose homes have become unlivable are now forced to juggle two monthly housing payments.
“Many of these homeowners have been forced out of their homes and some now face a financial crisis in paying for alternative housing for their families,” Sen. Warner said. “This Resolution demonstrates a bipartisan effort to seek basic fairness for these families by delaying foreclosure proceedings on homes constructed with contaminated drywall, at least until the CPSC drywall tests are complete and publicly available.”
Senators from Florida and Louisiana joined Warner and Webb in introducing the resolution.
I have heard directly from many Virginia residents who are facing mounting financial and health burdens due to the contamination of their homes. As they seek legal and administrative remedies, a major unanswered question is the liability of Chinese companies, and whether those companies or the Chinese government will be held accountable for financial or health-related damages. Reportedly, some of the companies involved may be owned by the Chinese government. As you speak with President Hu Jintao, I urge you to raise the issue of the contaminated drywall and China’s responsibility to assist in providing remedies to those affected by faulty products.
Homeowners in Virginia and several other states have been particularly hard hit by Chinese drywall. If your home contains Chinese drywall, or you suspect that it might, you need to know your legal rights. Do not hesitate to contact the lawyers at The Law Offices of Richard J. Serpe, P.C. for a no-obligation Virginia Chinese drywall consultation, Toll Free 877-544-5323.