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Comment by Kevin on September 9, 2009 at 7:37am

It was sold thru ACE Hardware in South Alabama in 06, which sold building supplies

Comment by Wm. Hattaway on September 8, 2009 at 6:03pm

Chinese Drywall.pdf This is the Greenfield Advisors white paper in Chinese drywall

Comment by Joe Daniels on September 8, 2009 at 5:58pm

Kevin,
A couple months ago I attended a seminar on the Chinese Drywall issue here in Jacksonville. At that point in time they indicated that it was mostly imported through the Port of Tampa. None had been shipped to my area and it was only sold to builders / commercial and not through places like Home Depot of Lowes. While thay said there was none commercially available in this area that didn't eliminate the possibility that we might find some here. What they did say was that it mostly went to builders in the southwest coast and Miami areas of Florida. One thing thay mentioned was that it is all marked "China" and other that actully removing sections of walls the only way of verifying it is to check in the attic. Move back some of the insulation and you might find the "China" origins of the drywall. Other than that the effects have been published and you might want to write a disclaimer in your report that it has not been verified, but is possible. Even if you pull back some of the insulation that doesn't mean it won't be present in other areas of the home. So, for right now the southeast coast and the Miami area are the most "suspect" as far as construction that occurred between 2003 and about 2007.

Comment by Kevin on September 8, 2009 at 5:26pm

I live in NW Florida in Navarre. Aftere Hurricane Ivan hit in 04 there was a shortage of drywall in the market at that time. Anything built in this area after that time period to 09 should have some disclamer in the report. As you don't know what is in the house. I have relatives in South Alabama that built in 07 that have just found out they have the Chinese drywall. Also homes damaged from the hurricane Ivan may very well have this drywall. The homes do stink and the wiring becomes corroded. This could be a fire hazard. My relatives are living in a travel trailer in the back yard. The AC system failed then it really started to smell like rotten eggs or sulfur. They didn't notice it enough to be concerned until the AC unit broke due to corroded wiring. The house is not liveable. All of the wiring will have to be replaced. To fix this it will cost proably about 2/3's the cost of the improvements. I think some disclamer should be put in the apprasial. Who knows where this is going to come up in the future.

Comment by Wm. Hattaway on September 8, 2009 at 4:01pm

This is my understanding of it; the lawsuits are just starting in Louisiana so I think people are waiting to see the fall out. No one knows the long term damage the drywall can do. They know what it can do to things like copper tubing and wiring but not health effects. I have not come across any of the drywall in West Central Florida (yet). I have a pfd from Greenfield Advisors in that they believe the building industry is still trying to get a handle on how big a problem it is. My understanding is that it was confined to new home construction. Because the drywall was only a ½ inch thick it did not make it’s way into the commercial side of building as it did not meet fire codes (commercial uses 5/8 thickness). It also came in 12 foot sections so they don’t think it made its way into the remodeling and renovation sector where they prefer 8 foot sections. Of the many lenders I work for none have asked about it (yet).

Comment by gator fan on September 8, 2009 at 6:24am

Anyone have any thoughts on the Chninese drywall issue?

Comment by gator fan on September 8, 2009 at 5:35am

Anyone have any thoughts on the Chinese drywall in Florida? Any CYA's to put in the reports?

Comment by Mike on April 10, 2009 at 9:20am

Kevin- get out of the lender business, they are as crooked as cypress fence posts. There is more honesty in selling used cars. The lender business will never change till they change the compensation of the acct. exec. back to a salaried postion. Otherwise, the acct.exec is working for themselves, not the lender.

Comment by Kat Bryce on April 9, 2009 at 11:35am

Gosh,

Contact Pam Crowley at mortgagefraudwatchlist.org she may know what to do with it.

Kat

Comment by Kevin on April 9, 2009 at 11:00am

I know how you feel. Had a conversation with a lender this morning and inquired about how they would handle ordering when HVCC goes into effect. He says they have started there own mgmt company. And of course they are going to only staff with the appraisers they like. You know what I mean. And of course he will be able to tell them which appraiser he will be able to use. Then he goes own about how they have there own underwriters and they are not scrutinizing the appraisals to hard, so you don't have to worry about this deal. I about screamed. It's going right back to where they were. I closed down in 2004 cause I was so fed up. Then I opened back up in 06 and was happy that the lenders were asking for the truth and I was primarily doing foreclosure work. Now I don't know. And I don't want to even get started about the mgmt companies. I hope I can find some other line of work. Any suggestions?

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