Bulge on House Siding

I have wood siding on my 12 year-old home.
Several years ago, I decided to seal these seams, and put putty on some of the seams on the east side, and paint over it.
A few weeks ago I noticed that one board, right underneath the my laundry room window, has a bulge underneath it big enough to get two fingers underneath it.
We don't get much rain in my area, and not much snow, but we did have our share of fog, and I noticed for about a week it was so bad that the house dripped of moisture. However, the area is underneath a deck, so it was dry.
I am hoping when it warms up that the board will relax, so I can screw it to the wall, and not replace the entire board.
Does anyone know what the problem is?
Thanks.
Corinne
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There's a product recall on some siding. Might want to see if yours happens to be in that. Just was on the news a few days ago.

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I saw a recent recall also on tv, i think it was within the last week. I believe it was for masonite???
http://www.sidingconsultants.com/IDENT/MASON-ID.HTM
http://www.masoniteclaims.com /
http://www.constructionlawsuits.com/defectiveproducts.html

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Sounds like a moisture and/or lack of expansion room problem. Wood always shrinks and expands with weather changes. If you seal the end joints it should be with something which will stay flexible. The bottom seams of lap siding should not be sealed because you need that area for any moisture to drain or ventilate out. There are actually wedges sold to open these joints for ventilation. In dry weather the wood may flatten out enough to fasten it down. Check the caulking around the window very carefully all around as this is a common place for water to get behind the siding. Don Young

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