04/06/2010
Faulty Chinese drywall can wreak havoc on a home's electrical components. What's worse: This damage is not covered by traditional homeowners insurance policies.
Homeowners trying to minimize damage should remove problem drywall, according to a recent report by the Insurance Journal. These products emit significantly higher levels of reactive sulfur than normal drywall, and can contribute to corrosion. Homeowners may also want to replace any electrical components that were damaged by the drywall, including gas service piping, fire alarm, fire suppression systems, carbon monoxide alarms, wiring and more.
"Based on the scientific work to date, removing the problem drywall is the best solution currently available to homeowners," Inez Tenenbaum, chairman of the Consumer Product Safety Commission, said. "Our scientific investigation now provides a strong foundation for Congress as they consider their policy options and explore relief for affected homeowners."
The Department of Housing and Urban Development is currently urging the Federal Housing Administration to take drywall damage into consideration when allowing homeowners to receive mortgage relief. Some communities were given HUD grants for drywall remediation, according to the report.
The Federal Trade Commission has cautioned customers against offers for test kits, inspections and quick fixes to faulty drywall. No federally-approved testing kits have been released, while quick fixes will likely lead to additional losses.