BALTIMORE, MD – July 6, 2010 – (RealEstateRama) — Attorney General Douglas F. Gansler today announced that the Consumer Protection Division has reached a settlement with Arch Insurance Company, the bonding company for Equity Homes, LLC., to pay $460,000 in consumer claims. Equity Homes was a home builder based in Fairfax, Virginia that went out of business in February 2008. Prior to its closure, Equity Homes accepted deposits from consumers to build new homes but never built the homes or refunded the deposits.
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