Fort Lauderdale attorney Mike Ryan said homeowners grappling with the
misery of defective Chinese drywall have won a partial payment reprieve
from four lenders. HSBC, SunTrust, Countrywide and Bank of America will
allow borrowers to suspend payments for three months and won’t refer
homeowners to credit agencies. This will allow many to seek temporary
housing as repairs are performed or settlements are reached. [more]

A growing number of South Florida families must choose between health and housing. For most families whose homes were built with contaminated Chinese
drywall, it’s no decision at all. Some choose foreclosure over still
unknown long-term health impacts of Chinese drywall. Foul odors and
electric problems have been widely reported in homes containing Chinese
drywall, and class action lawsuits are rising. “This is a catastrophe,” says Mike Ryan, a partner at the law firm of
Krupnick Campbell in Fort Lauderdale who is representing clients in
Chinese drywall cases. “We are going to live with this devastation for
years. The Chinese drywall issue is equivalent to a hurricane, but
worse because insurance isn’t covering it. These homeowners couldn’t
sell their homes if they wanted to, and contractors can’t guarantee a
fix because we don’t fully understand the scope.”
[more]