State wants mortgage practices examined









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By Howard Fischer
Capitol Media Services

PHOENIX — Attorney General Terry Goddard has hired an outside law firm to investigate predatory lending practices by homebuilders and their mortgage firms.

Documents obtained by Capitol Media Services show Goddard has agreed to pay a Washington, D.C., law firm a share of whatever they help him recover in penalties against those being investigated. Under the terms of the deal, the firm could get up to one fifth of anything collected.

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