"Uncovered: Massachusetts Homeowners Struggle with Worthless Foundations"

1 min read
Source: Yahoo Finance
"Uncovered: Massachusetts Homeowners Struggle with Worthless Foundations"
Photo: Yahoo Finance
TL;DR Summary

Thousands of Massachusetts homeowners are facing crumbling foundations infected with pyrrhotite, a mineral that compromises structural integrity and renders homes worthless. Homeowners insurance won't cover the issue, and banks won't provide loans, leaving affected homeowners to foot repair bills of over $250,000. State officials believe around 7,500 homes in Massachusetts could be at risk, and some are calling for financial aid similar to a trust fund set up in Connecticut to help cover the costs of new foundations.

Share this article

Reading Insights

Total Reads

0

Unique Readers

1

Time Saved

3 min

vs 4 min read

Condensed

89%

70478 words

Want the full story? Read the original article

Read on Yahoo Finance