Consumers Get a Break

By: Associated Press
By: Associated Press

Mississippians who had home loans with Household or Beneficial Finance are eligible to claim a portion of the state's $2 million share from a national settlement.

Attorney General Mike Moore said notices are being sent to 3,445 household borrowers in the state.

Moore said it's the largest settlement ever obtained by state attorneys general in a consumer protection case.

Household agreed to pay $484 million to be distributed to eligible borrowers nationwide.

Borrowers who got mortgage loans directly from Household from January 1999 through September 2002 will be sent forms to claim payments ranging from $50.00 to more than $3,000.

The settlement resolved an investigation into claims of unfair and deceptive mortgage lending practices by Household.


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