The Real Deal Miami

Mortgage halts for drywall victims

June 04, 2009 11:08AM

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.