Cutting line underwater? That's just asking for trouble.

My bathroom pipes in the old house were galvanized, just like @the_ray mentioned. They started leaking bit by bit until one just gave out. So I feel your pain, it's exactly what you're describing. The water damage cost me a pretty penny to fix. Now I check all the plumbing in any place I move into.

My cousin paid EXTRA for recycled silver, same deal.