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House passes Buchanan drywall bill

The House on Wednesday passed legislation by a 419-to-1 vote that would help Florida homeowners suffering from toxic Chinese drywall avoid foreclosure.

Rep. Vern Buchanan, R-Sarasota, is an original cosponsor of H. Con. Res. 197, which would encourage banks and mortgage servicers to provide impacted homeowners with temporary forbearance on their mortgage payments.

“Many of my constituents have been forced to leave their homes and pay rent in addition to paying their mortgage,” Buchanan said. “This bill would provide them with some financial relief and help them avoid foreclosure.”

Forbearance is sometimes given to borrowers with temporary financial problems, according to a release from Buchanan’s press office.

The U.S. Consumer Product Safety Commission reported last month that defective Chinese drywall is causing significant damage to Florida homes and posing serious health threats to people living in impacted homes.

The Senate, led by group of senators including Bill Nelson, D-Fla., passed unanimously a similar resolution Nov. 10.

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