X

See what's happening with home values in more than 400 metropolitan areas with HSH's Home Value Tracker, just updated though the second quarter of 2022.

See what's happening with home values in more than 400 metropolitan areas with HSH's Home Value Tracker, just updated though the second quarter of 2022.

The plumbing in my home is failing. Is there help?

Q: My home was plumbed with polybutylene pipe and I had a leak that came through the ceiling and flooded my home. The ceiling also caved in. What a mess! I there any help available to replace this plumbing in my home?

A: We're no experts when it comes to home repair issues or any insurance coverage you might be carrying. That said, you should first check with your homeowner's insurance company to see how much of any damage might be covered by your policy. You should also weigh filing a claim against any cost you'll need to pay out of pocket (deductible); depending upon the extent of the damage, it may or may not be the least costly in the long run to pay for the repairs rather than filing a claim.

It would appear that there have been a number of class-action lawsuits with regard to polybutylene pipe and unusually high failure rates. You should investigate both the extent of the use of this piping in your home and whether or not you might be eligible to be included in any class action settlements to help recover the cost of replacing the polybutylene piping in your home.

Ask the expert
Keith Gumbinger
Keith Gumbinger
Mortgage Expert
Vice President, HSH.com
About Keith: Mortgage market observer and analyst with 35 years experience... (more)
Please enter a question.
Please enter name.
Please enter email.
Captcha code invalid
Q: How are mortgage interest rates determined?
AUG 18, 2022
A:

Mortgage rates fluctuate from day to day, depending on a number of factors related to the economy and to choices made by investors. While some mortgage money comes from deposits held by banks and credit unions, most of the funds for borrowers come from investors in capital markets.

Read More
Q: Will today's stock market influence tomorrow's mortgage rates?
AUG 16, 2022
A:

Mortgage rates are influenced by a variety of factors, rather than moving in lockstep with any one economic indicator. The stock market rises and falls for a wide variety of reasons, including global, economic and political issues, but as a broad rule of thumb, a rising stock market indicates optimism among investors about the economy.

Read More
Q: Should I pay private mortgage insurance out of pocket or finance the cost?
AUG 12, 2022
A:

For the most part, this is a discussion about time. You should compare the total costs of the difference in the two interest rates over your given time horizon.

Read More
Add to Homescreen?
X
X
Install this web app on your phone :tap and then Add to homescreen