Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog will consist of information describing the various forms of Home Equity Theft and links to news reports & other informational sources from throughout the country about the victims of Home Equity Theft and what government authorities and others are doing about it.
Friday, April 01, 2016
Arizona Contractors' Ripoff Reimbursement Fund OKs $352K Payout To 38 Homeowners Who Were Screwed Out Of Money By Two Pool Builders
The Arizona Registrar of Contractors recently announced:
On Monday, March 14, the Arizona Registrar of Contractor’s (AZ ROC) Residential Recovery Fund began sending Recovery Fund Payout Notification letters to claimants injured by two Phoenix-based pool installers, Camelback Pools doing business as Paddock Pools and RIG Constructions doing business as Cameo Pools.
Of the combined 78 administrative complaints filed against the two companies in 2015, 46 individuals filed Recovery Fund Claims. After reviewing claims and eligibility requirements, AZ ROC’s Recovery Fund will pay out a total of approximately $352,620.00 to 38 residential property owners.
Seven claims were found ineligible due to property classification, hiring the contractors while their licenses were already suspended, and using an unlicensed entity to complete the project.
The Registrar’s Residential Recovery Fund is available to eligible complainants after a licensed contractor has been found to be in violation of Title 32, Chapter 10 with a maximum payout of up to $30,000 per claim, up to $200,000 per residential license.
Between Camelback Pools and RIG Construction’s three licenses, two were residential licenses; meaning a maximum potential payout of up to $400,000.00.
Only one complaint - received in Feb. 2016 - remains under investigation. This case and a civil matter may result in two more payouts but will not cause the total payouts to exceed $400,000.00.
Background:
On Thurs., July 16, 2015, AZ ROC revoked the three licenses held between Camelback Pools doing business as Paddock Pools and RIG Constructions doing business as Cameo Pools, both based out of the Phoenix-area.
The revocations follow two orders of summary suspension on licenses assigned to Camelback Pools and RIG Construction and two citations alleging a combined 24 counts of violations of Title 32, Chapter 10 of the Arizona Revised Statutes filed on May 29, 2015.
The Orders revoking the licenses concluded AZ ROC’s investigation and legal process for twelve complainants, while an additional sixty-six complaints continued working through the AZ ROC administrative process. In total, and not including the recently opened case, the Registrar investigated 50 cases against Camelback Pools and 28 against RIG Construction.
If eligible, these individuals were able to file claims with the Residential Recovery Fund.
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