WATCH THE VIDEO.
Kudos to the Office of Arizona Attorney General Terry Goddard for protecting the rights of Arizona citizens. The Arizona AG's Office investigated Pulte’s pre-qualification practices, earnest money deposit policies and Spanish-language marketing efforts and determined that Pulte violated Arizona’s consumer protection law. As a result, Pulte Home Corporation and Pulte Mortgage, LLC (collectively “Pulte”) agreed to a $1,181,400 settlement with Arizona. The settlement includes:
- Refund $81,400 to 10 Arizona consumers who the Attorney General alleged wrongly forfeited their earnest money deposits after canceling their purchase agreements.
- Pay $200,000 into an escrow account which will fund any new, legitimate claims for earnest money deposit refunds that are filed with the Arizona Attorney General’s Office within 12 months of the settlement.
- Pay $500,000 to the Consumer Fraud Revolving Fund to fund the Attorney General’s consumer protection, education and outreach programs.
- Pay $100,000 to fund the publication and dissemination of Spanish-language educational materials.
- Pay $300,000 as reimbursement of the Attorney General’s costs and investigative expenses.