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Thousands of Massachusetts homes are at risk

So far, state officials believe around 7,500 homes across Massachusetts could be at risk of pyrrhotite contamination.

"If you are thinking of buying in this area, you absolutely have to have the seller test the concrete first," Haynes said.

A cluster of homes run by a condo association in Westminster, Massachusetts, has had at least 10 of 96 units, all built in the 1990s, test positive for pyrrhotite — racking up repair fees of $115,000 to $130,000 per unit — according to Spectrum News 1. This caused homeowners association (HOA) fees to skyrocket.

“I don’t know how many increases on the HOA that I can justify,” Tammi Roscoe, who moved into her home in spring 2021, told the news outlet. “That was a huge jump. It went from $366 to $434.”

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Homeowners and state officials are calling for help

Starting in July, Massachusetts is mandating quarries test their product to ensure it doesn’t contain any traces of pyrrhotite. However, homeowners and some state officials are calling for financial aid to help cover the costs of new foundations.

"It's time for legislators and the governor to act on this," Haynes said. "There's a very real chance there's far more people affected by this than we even realize today."

Tens of thousands of homes in Connecticut constructed between 1983 and 2000 are believed to be impacted by the same problem. But the state has set up a trust fund to help — with homeowners receiving up to $190,000 toward foundation replacement.

The fund is paid for by a $12 per year surcharge on every home insurance policy in the state.

“Connecticut has done this; Massachusetts needs to follow suit,” Michelle Loglisci, a founder of Massachusetts Residents Against Crumbling Concrete, told MassLive. “Massachusetts is probably going to be in worse shape than Connecticut.”

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Serah Louis is a reporter with Moneywise.com. She enjoys tackling topical personal finance issues for young people and women and covering the latest in financial news.

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