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+-- Thread: Another Federal Pacific ???? (/showthread.php?tid=7219498)
Another Federal Pacific ???? - JTTHECLOCKMAN - 02-13-2016
I did not want to hijack the other thread so I would start a new one. Has federal pacific panels been outlawed??? Is this company still in business or under a different name. You do not hear much of them any more. The big question is do insurance companies put a red flag on homes that have them installed when going for homeowner's insurance like they do for fuse panels and oil tanks in the ground??? Getting a mortage with those things are they things you need to pay a higher premium for??? Thanks
Re: Another Federal Pacific ???? - Pirate - 02-13-2016
In FL if you get new Ins. on a house that is over 30 years old, it cannot have a FB breaker box. Been there, done that, less than a year ago.
Re: Another Federal Pacific ???? - Robert Adams - 02-13-2016
They were bought by Schneider (which also makes Square D) and they still produce the panels and breakers but they are only available in Canada and Mexico. May be available in the Caribbean but I'm not sure as the wiring I have seen there and Mexico rarely uses a panel or breakers.
They are not allowed In the us because they do not meet the UL testing. Many mortgage companies require the panel to be replaced before they will close on the house.
For the insurance company what's worse is you proximity to a fire hydrant than what panel you have. I have a friend that bought a house in an expensive new gated community and had a heck of a time finding an insurance company to cover them at all because the hydrant was too far away.
Here is a link to a current 200 amp stab loc panel.
http://www.schneider-electric.ca/canada/...p_range_id=7243
Re: Another Federal Pacific ???? - Snipe Hunter - 02-13-2016
How would a mortgage company know if there is a FPE panel in a home? They don't see an inspection report. They do see an FHA appraisal if it's an FHA loan. Do appraisers look at breaker panels?
Re: Another Federal Pacific ???? - JTTHECLOCKMAN - 02-13-2016
yes. It is disclosure. I had to pay additional money for fuses in my Mom's house. Also the oil tank in the ground.
Re: Another Federal Pacific ???? - Robert Adams - 02-14-2016
Snipe Hunter said:
How would a mortgage company know if there is a FPE panel in a home? They don't see an inspection report. They do see an FHA appraisal if it's an FHA loan. Do appraisers look at breaker panels?
Many mortgage companies require an appraisal/inspecrion which includes the panel,hvac etc and they will catch it. It's not just FHA anymore. Course many sellers won't accept FHA loans and I don't blame them as its a royal pain for the seller.
A friends son bought a house and his loan company wouldn't close until the hvac blower motor was replaced because it made a ticking sound. The seller won't do it so you have to do it out of you own pocket.
Funny you have to spend money on repairs on a house you don't own yet so you can buy it. Sad part is even if you do the repairs they can still deny the loan and the sellers got a free repair...
Re: Another Federal Pacific ???? - woodhead - 02-14-2016
Back in 92 when I purchased this house, the boiler was suspect. A foreclosure with no electric or gas service did not allow the banks rep to test the boiler. They held $2500 in escrow until I could show it was working.
Al
Re: Another Federal Pacific ???? - EricU - 02-14-2016
someone wanted to buy my mom's house with FHA, there's no way it could have been brought up to spec. You would hope the FP panels would be caught in an inspection, but my experience in the past says it's possible it could make it through. The guy that inspected my mom's house was great, I wish the person we hired for out house had been as good
Re: Another Federal Pacific ???? - Snipe Hunter - 02-14-2016
The house we just sold had several offers. Eleven offers total but six of them needed to sell their house first. We had found a house for us and needed to move quickly. That narrowed it down to five. Four were FHA and one was FDA (even worse) and none of them intended to put money down. Even though we accepted ten thousand over asking price, we still had to pay eleven thousand in closing costs to the buyer. All of the offers wanted 11k closing help (3%). The FDA loan was actually for 20k over asking and FDA keeps that extra 9k to insure the loan which was over 11%. It boggles my mind that people buy houses with no money and borrow the down payment and borrow more than the value to "buy" the loan. A little shift in the economy and they're in deep trouble.
Sorry... back to electrical panels.
Re: Another Federal Pacific ???? - geek2me - 02-16-2016
JTTHECLOCKMAN said:
Has federal pacific panels been outlawed???
In a word, no. The company was bought, products are still available, all the evidence I can find suggests they are no worse (or better) than other brands such as Square D (about the same rate of failure). People make a lot of claims and spread "urban legend", but don't seem to provide any evidence. To quote the CPSC "recall" cited in the other thread " the data currently available to the Commission does not establish that the circuit breakers pose a serious risk of injury to consumers. "