Jeff,

In our area I believe the problem was with Louisiana Pacific siding. If you have the problem I'm thinking of it began with improper installation. In order for the siding to last and for the warranty to be supported the siding needed to be completely sealed from moisture. Most contactors didn't know or bother to follow the guidelines for proper installation so moisture easily got into the cracks or nail holes,quickly destroying the siding. It was an expensive repair and eventually got legal. Here is a link that may help you out:

http://www.sidingsolutions.com/pages/classtat.htm

If I can be of any additional help please contact me directly.

Jeff,

Over the years there have been some siding products that failed before their warranty period ended. I would agree, get a good home inspector with building knowledge and let them know you heard there was a problem with the siding.

The website below contains links to two websites that sort certified home inspectors by zip code and city. Even if someone knew what the problem was with the siding, they might get slapped with a law suit for placing it online in this question.

Is is that GP product? If so, check with the manufacturer, and have a good home inspection.