"Knauf Plasterboard Tianjin Co., a Chinese drywall maker, agreed to pay at least $800 million to settle homeowner claims that faulty building materials contaminated their homes with corrosive sulfur fumes, plaintiffs? lawyers said. "
A huge number of those homes were simply walked away from, foreclosed and fixed by the new owner. I guess they waited long enough to avoid a lot of the liability.
I do know a guy who specialized in buying and fixing these houses. Essentially he strips them down to the block and replaces everything. He generally includes upgrading the kitchen and baths, making them nicer houses than they were originally and sells them at a pretty good profit.
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