Suzie Orman on Larry King says walk away from moldy house

[Guest guest]

Interesting interview by Larry King of Suzie Orman, taking callers

question, someone had built a home that had become infected with

toxic mold and they wanted advice. Her advice was to walk away from

house. She said:

ORMAN: When the house has mold, it is absolutely true that most

insurance policies don't cover mold over like 5,000, maybe 50,000

dollars at most. If it's a really great policy, and it does, once

mold is in a house, guess what, it is there and it is very difficult

to get rid of.

KING: So she's screwed?

ORMAN: I don't want to use that word here, but you are going to have

to walk away, I'm afraid.

http://transcripts.cnn.com/TRANSCRIPTS/0801/12/lkl.01.html

Whole discussion, about 1/2 way down:

CALLER: Hi, Larry. Hi, Suze. My husband and I purchased a home,

actually built a home two 1/2 years old, and toxic mold was

discovered in the house. We were told to walk away with the clothes

on our backs. It's going to cost hundreds of thousands of dollars to

rid the house of the mold. Insurance does not cover mold problems. We

don't know what to do.

ORMAN: Oh, I know.

KING: The builder has no responsibility?

ORMAN: Was this a house you built, or did a builder --

CALLER: We built the house.

ORMAN: That's what I thought.

CALLER: We built the house.

ORMAN: When the house has mold, it is absolutely true that most

insurance policies don't cover mold over like 5,000, maybe 50,000

dollars at most. If it's a really great policy, and it does, once

mold is in a house, guess what, it is there and it is very difficult

to get rid of.

KING: So she's screwed?

ORMAN: I don't want to use that word here, but you are going to have

to walk away, I'm afraid.

KING: Good grief.