Many lenders, HAMP and HAFA representatives are often unfamiliar with Chinese drywall, sinkholes, and other Disasters
Lenders are not aware of severity and cost of disasters such as Chinese drywall or sinkholes. Most often, lenders instruct homeowners to make costly repairs before a short sale approval will be issued. Most homeowners are unable to pay these costs and may not even be able to continue living in homes that present a health and safety issue. Oftentimes, these homes end up in foreclosure.