CedarMate siding reimbursements drawing to an end
CedarMate Siding Products of Ontario Canada will terminate their voluntary reibursement plan on April 30th of this year, withdrawing tens of millions of dollars which were unclaimed by Georgian "Contemporary Style" homeowners.
AGREEMENT:
CedarMate Siding Agreement
GDO Report
BUFORD - Owners of "Contemporary Style" homes throughout the state of Georgia are running out of time to be reimbursed by manufacturer.
CedarMate Residential Siding Products of Ontario, Canada made sealed, out-of-court settlements with various Georgia homeowner groups who once claimed the product was faulty and problematic in April of 1992. According to sources, the settlement allowed for those whose homes were originally built with the questionable product to be compensated when changing out the product on a pro-rated basis for a 15 year window.
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On April 30th of this year, CedarMate will no longer be making the "voluntary" reimbursements called for by their out-of-court agreement.
"Contemporary Style" homes are not exactly common throughout the state of Georgia. Some of the older, well established, neighborhoods have many while newer sub-divisions have few if any. The architecture is strikingly different than that of most homes in Georgia. The ceilings are always very high and the pitch of the roof are almost always at an odd angle.
Those who own the unique looking homes are almost always furtunate enough to have to means to take very good care of them.
One family who recently switched from CedarMate siding to HardiPlank and was reimbursed by the Canadian manufacturer was not only forced to sign a release of liability, but a non-disclosure agreement as well. It is for that reason, among others, that we cannot reveal their names. But the head of the household of the Gwinnett family was free to express generalities, such as the fact that their home recently appraised at over a half million dollars.
The family's mortgage company was quick to point out, however, the many problems related to CedarMate siding products and the negative influence that the product was sure to bear upon the home's value one day. Once the homeowner learned of this, he immediately contacted the Georgia reibursement office for CedarMate and was amazed to learn the value of reimbursement the family qualified for, provided they went through with replacing the CedarMate product with HardiPlank siding.
It turned out that, even though the house was around 20 years old, the family was still going to be reimbursed somewhere in the neighborhood of $8,000. The homeowner knew they'd one day be re-siding the house with HardiPlank or some fiber cement equivelant for around $30,000 or so, but he had no idea that he'd receive over 25% back in reimbursements.
The homeowner's wife was quick to mention that the savings was to be used for their childrens' college tuition, but the homeowner we interviewed had already been looking into the value that an in-ground swimming pool might add to the property.
Examples of "Contemporary Style" homes in Gwinnett County: |
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