I usually write about Chicago real estate & mortgages, after all, that is what I do. Sometimes, however, I come upon a subject that is worth moving outside of the normal bounds of expertise. In light of the wet summer that we have had, I’ve come across more and more loans where homeowners are dealing with the unfortunate aftermath of flooding in the basement. For some homes it is a chronic issue, but for many it is only a problem when we deal with a Biblical rainfall that saturates the ground beyond the point that any drainage system can counteract. Either way the end result can range from nuisance clean up with a shop vac to massive damage requiring complete removal of carpet, dry wall and possibly even mold remediation. Most of the time, the floor bears the brunt of the onslaught.
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