monavateme.com: First Chinese Drywall Lawsuit awards 2.4 Million to Florida Couple

First Chinese Drywall Lawsuit awards 2.4 Million to Florida Couple

This week we have the first Chinese Drywall Lawsuit involving a Florida Couple who bought their home in early 2008 and they were seeking 4.3 million in damages.  This is the first of over 40,000 pending cases.  I have written a few blogs on Chinese drywall over the last year about this problem and early on it wasn't known to be a real problem however as more and more cases have come forward, the problem seems more real than ever.  With this initial jury award it seems the if has been put to rest and now the questions are how many homes have this defective Chinese drywall and how much it will cost those along the supply, manufacturing and building chain will have to pay. 

Michael Cantwell

Loan Consultant - Boca Raton, Florida

My website - www.loanDepot.com/mcantwell

My Mobile # 561-262-5366

My Outside Blog Florida Renovation Loans

 

 

 

               

Comment balloon 3 commentsMichael Cantwell • June 20 2010 02:48PM

Comments

Michael- you're right, now we'll wait to see what other suits have/will be filed and how this will affect the supply companies as well as home builders.  (not to mention those homeowners who have been living with this).

Posted by Kathy Streib, Home Stager - Palm Beach County,FL -561-914-6224 (Room Service Home Staging) almost 8 years ago

Mna, I can see both sides of these cases.  There are no winners here as builders got screwed by their suppliers, who got screwed by the Chinese.

Posted by Loan Survivor Real Estate Financing Expert (Purchases, First Time Buyers, Pre-Approvals, Refinance) almost 8 years ago
Kathy and Drew, thanks for your comments. I think that Florida could really benefit from all the money coming from the lawsuits. With this win, it could be the start of something big considering the number of homes effected with Chinese Drywall in our state.
Posted by Michael Cantwell (LoanDepot - NMLSR ID #644428) almost 8 years ago

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