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If you're considering an ARM, you'll want to check out HSH's comprehensive Guide to Adjustable Rate Mortgages.

If you're considering an ARM, you'll want to check out HSH's comprehensive Guide to Adjustable Rate Mortgages.

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)
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