Electrician came to do walk-through of house to start replacing light fixtures, put in new outlets, etc. Showed him where I would like an outside outlet installed and he noticed a wire hanging free from side of house.

He called in the Ground Wire/Triplext Wire. Said it hits my cold water pipe to keep house grounded. He asked how long it has been like this and I shared about 4 weeks. He shared I needed to get it fixed as soon as possible as I run the risk of shock showering, doing laundry, etc. He would not touch my junction box as he said it was too dangerous.

Should I be alarmed? I called my local borough electric and they said they would have an on-call technician call me; that was 4 hours ago. Hrumph.

(I am a new homeowner and slightly confused. Advise welcome.)