Federal agencies provide tips, assistance February 6, 2010

Federal agencies are taking serious efforts to disseminate information and tips aimed to assist homeowners determine whether the drywall in their homes is Chinese drywall.  Chinese drywall has emerged as a problematic consumer good over the past year – after thousands of consumer complaints.  It is allegedly toxic and may be behind corrosion and health symptoms..  Lawsuits are in progress in the Eastern District of Louisiana.

You can check out another article regarding federal agency assistance here.

Among the agencies involved in the investigation of the Chinese drywall issue are the Consumer Product Safety Commission (CPSC), the Environmental Protection Agency (EPA), and the U.S. Department of Housing and Urban Development (DHUD).  Other agencies may also be involved with the Chinese drywall issue at large as the situation progresses: the Small Business Administration (SBA) is one agency arising in discussions.  Some lawmakers have suggested “disaster loans” as solution to financial woes homeowners are facing.

It seems as if there are two primary concerns with regard to the Chinese drywall debacle: increased financial strain in an unsettling economy, and health related problems associated with sulfuric compounds (and perhaps other compounds in addition to sulfur).  The aforementioned disaster loan idea would provide homeowners with favorable loans.  As some families discover the home they reside in contains Chinese drywall, the swift transport of possessions and residences to untainted homes is a step many are taking.  The consequences though, include second mortgages, rental payments, and remediation costs.

Federal agencies will most likely continue to react and respond to legislative measures, consumer issues, and the developing lawsuits taking place in the federal court system.