Homeowners Can Share in Consumer-Protection Settlement

Homeowners Can Share in Consumer-Protection Settlement

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(Salt Lake City-AP) -- Utah home-buyers who were ripped off with deceptive lending practices at mortgage company Household Finance can now share in a huge consumer protection settlement.

The Utah Attorney General's office announced the settlement today.

Utah got four-point-four (M)million dollars in the 484-(M)million nationwide settlement.

It's reportedly the largest monetary consumer-protection settlement ever obtained by attorneys general.

The attorneys general in all 50 states went after Household Finance for deceptive lending practices that misrepresented costs and terms for home loans between 1999 and 2002.

Household Finance customers should be receiving notice in the mail about how to get their share of the settlement. The Utah Attorney General's office says checks should be mailed out to customers who apply before the end of the year.

(Copyright 2003 by The Associated Press. All Rights Reserved.)

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