(PRWEB) December 03, 2012
The Chinese Drywall Complaint Center is now warning all property owners in Florida, Alabama, Mississippi, Louisiana, Southeast Texas, and Virginia who have a mortgage on a property that includes toxic Chinese drywall that if the Mortgage Forgiveness Debt Relief Act is not extended prior to midnight December 31st 2012, they will be taxed on any mortgage principal reduction provided by their bank, or mortgage lender related to a brief sale, a loan modification, a deed in lieu, or a foreclosure-as if it was ordinary earnings-if the mortgage principal reduction is done anytime in 2013, and the bill collector will be the IRS. The Chinese Drywall Complaint Center says, “President Obama has yet to show up to the toxic Chinese drywall disaster in Florida, the Gulf States, and Virginia, he has not mentioned the toxic Chinese drywall disaster 1 time in public, there has been no meaningful response from the US EPA, and unless the US Congress extends the Mortgage Forgiveness Debt Relief Act-NOW- property owners stuck in toxic Chinese drywall hell could get a gigantic IRS tax bill if they get any sort of mortgage principal reduction from their bank, or mortgage lender in 2013-if they do a brief sale, a loan modification, a deed in lieu of foreclosure, and or a house foreclosure. We are calling this the ultimate nightmare for toxic Chinese drywall home owners. Not extending the Mortgage Forgiveness Debt Relief Act would be a disgrace for property owners stuck in toxic Chinese drywall hell in Florida, the US Gulf States, and Virginia.” http://ChineseDrywallComplaintCenter.Com

On the topic of disgraces, the Chinese Drywall Complaint Center considers the Knauf Tianjin toxic Chinese drywall settlement to be a disgrace as nicely. The group estimates among Florida, Alabama, Mississippi, Louisiana, and Southeast Texas there are at least one hundred,000 properties that include this particular type of toxic Chinese drywall-generally intermixed with US made drywall. The Chinese Drywall Complaint Center is deeply concerned that the so named Knauf Tianjin toxic Chinese drywall Court Settlement lacked transparency, there was no concerted effort to determine all impacted homes, or residence foreclosures-with the net result only about 5% of the homes in Florida, or the Gulf states will be repaired, or will participate in this settlement. The Chinese Drywall Complaint Center says, “So what occurs to the 95,000 properties, condos, or town houses not integrated in the Knauf Tianjin settlement? They become foreclosures, they get resold to new unsuspecting home owners, and as soon as the new homeowner discovers the residence has Knauf Tianjin toxic Chinese drywall-the house becomes a foreclosure all over once again. We are in the strongest terms feasible urging Judge Fallon of the Federal District Court of New Orleans to re-open the identification period for properties that contain toxic Knauf Tianjin Chinese drywall till at least June 1st 2013. Incorporated in this settlement should be banks, and taxpayer owned Fannie Mae. Why need to bank stockholders, and taxpayers get stuck with the cost of either bulldozing, or paying for a very rigorous remediation of a toxic Chinese drywall residence foreclosure in Florida, or any other US Gulf state?” http://ChineseDrywallComplaintCenter.Com

The Chinese Drywall Complaint Center says, “One particular a lot more disgrace that requirements to be mentioned about Knauf Tianjin toxic Chinese drywall-if this certain type of toxic Chinese drywall is toxic sufficient to consume by way of a copper air conditioning coil in about a year in a Florida house-what is exposure to this variety of drywall performing to the well being of the folks who live in these residences?” http://ChineseDrywallComplaintCenter.Com

(United States District Court-Eastern District of Louisiana MDL Case #2047)