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Toxic drywall tax deduction may be on the way

shamel — Fri, 31 Jul 2009 23:24:52 +0000

The IRS may rule to help homeowners who have toxic drywall. The agency is putting out a letter, that says: it may consider loss of home value, due to Chinese drywall, a casualty event. That would mean: homeowners could deduct the loss from their taxable income, possibly as soon as this tax year. The IRS letter goes on to warn: It will follow through with the casualty designation, only if the federal government rules that the Chinese drywall is causing health and other problems. That ruling should come in a couple of months.

Date set for class-action toxic drywall lawsuit

shamel — Wed, 29 Jul 2009 01:36:16 +0000

The class-action toxic drywall lawsuit has been scheduled. It’s being called the largest construction defect case in U.S. history, and is set to be heard September 2010. The plan is to take one federal suit to the manufacturer in China and the distributor in Germany. For Florida homeowner Richard Kampf, that is too long. The toxic drywall has taken it’s toll on his house and his finances. “I think monetary costs are not as great as emotional costs…waking up thinking about how we invested our life savings into this home only to realize that my house is worth nothing,” Kampf says.

The idea is to take one federal suit to the manufacturer in China and the distributor in Germany.

Attorney and realtors discuss toxic drywall disclosure

shamel — Mon, 06 Jul 2009 18:48:51 +0000

Should toxic drywall in homes be disclosed? Realtors in Hampton Roads, VA attended a town hall meeting to discuss what they should do if homes they are selling contain drywall from China. The meeting was led by attorney Richard Serpe, who has joined other lawyers across the country to help homeowners deal with problems associated with the toxic drywall.

Dangers of toxic drywall

shamel — Sat, 27 Jun 2009 17:32:59 +0000

Homes built with toxic drywall are facing many dangers. Air conditioner coils are corroding, copper wiring and outlets are covered with black soot, houses smell like rotten eggs and people are getting sick. The Florida Department of Health says the odor is coming from the emission of volatile sulfur compounds. These gases are causing the copper corrosion. Enough toxic drywall from China was shipped to the US in 2006-07 to build at least 30,000 homes.

Is Communism behind toxic drywall scandal?

shamel — Thu, 25 Jun 2009 02:23:09 +0000

Toxic drywall has caused a housing boom tragedy. What started out as a good thing for the economy, has turned into a disaster. Houses that once had value, now have none. Like asbestos before it, toxic drywall has sparked lawsuits across the country. If your house smells like rotten eggs, you have appliances going out, and your fixtures are corroding or covered with soot, your home may have been built with toxic drywall from China.

Port of Tampa holding toxic drywall

shamel — Wed, 24 Jun 2009 02:50:20 +0000

A shipment of toxic drywall has been found at the Port of Tampa. Two longshoremen have come forth saying about 150 bundles have been stored there since 2006. They are concerned about their health and other coworkers whose job was to unload the toxic drywall from China. The EPA has taken samples for testing.

American toxic drywall found in Florida home

shamel — Tue, 16 Jun 2009 17:36:11 +0000

Georgia Pacific is facing a toxic drywall lawsuit. The Swiddler family built their home with Toughrock brand drywall, which is producing the same symptoms as homes built with Chinese drywall. A key ingredient in Touchrock drywall is synthetic gypsum…chemical materials scrubbed from the exhaustive coal-fired power plants. Michael Swiddler is a building foreman who has overseen the construction of more than 500 Florida homes. He was very aware of the Chinese drywall crisis, but thought his home was safe because he used American drywall. Now his family has moved to a nearby rental home, while their dream home faces demolition.

Home values plummet because of toxic drywall

shamel — Wed, 10 Jun 2009 17:46:43 +0000

The toxic drywall from China has left homeowners hopeless. Dream homes have turned into nightmares. Deterioration is causing home values to fall and health to decline. Even neighboring homes without toxic drywall are suffering. Attorney Vince Pravato questions, “Who’s going to want to buy a home in a community that’s known to have Chinese drywall?”

House passes toxic drywall amendment

shamel — Sat, 06 Jun 2009 03:14:52 +0000

The House has approved a toxic drywall study. Florida Congressmen Mario Diaz-Balart and Robert Wexler are seeking to protect homeowners. Their amendment was approved to determine the impact of toxic drywall on home foreclosures and the ability to get property insurance. They are also seeking $2 million in emergency funds to examine problems with the drywall from China.

Virgina community bans toxic drywall

shamel — Tue, 26 May 2009 17:50:45 +0000

Norfolk is the first U.S. city to ban toxic drywall from China. The ordinance was imposed to protect homeowners from builders who knowingly use products that might not be safe. Contractors must certify that they are not using drywall from China, or they will be denied a building permit. The EPA released results of tests that found sulfur and other organic compounds in the Chinese drywall that were not present in American wallboard.