{"id":3737,"date":"2022-12-02T10:41:06","date_gmt":"2022-12-02T10:41:06","guid":{"rendered":"https:\/\/preprod.realtrends.com\/blog\/2022\/12\/02\/florida-attorney-general-sues-mv-realty\/"},"modified":"2025-03-13T02:48:10","modified_gmt":"2025-03-13T02:48:10","slug":"florida-attorney-general-sues-mv-realty","status":"publish","type":"post","link":"https:\/\/preprod.realtrends.com\/blog\/2022\/12\/02\/florida-attorney-general-sues-mv-realty\/","title":{"rendered":"Florida attorney general sues MV Realty"},"content":{"rendered":"\n<p>The Florida attorney general\u2019s office is suing real estate brokerage <strong>MV Realty<\/strong> for what it calls a \u201ccomplex and deceptive scheme,\u201d that could swindle consumers out of their home equity, the <strong>Tampa Bay Times<\/strong> reported.<\/p>\n\n\n\n<p>MV Realty&#8217;s Homeowner Benefit Program gives homeowners who sign up for the program  $300 to $5,000 in cash as a loan alternative.<\/p>\n\n\n\n<p>The <a href=\"http:\/\/myfloridalegal.com\/webfiles.nsf\/WF\/CPAL-CLMSK3\/$file\/Web+Link.pdf\">lawsuit<\/a> describes this program as \u201cmisleading and confusing\u201d because the contract requires homeowners to give the brokerage the exclusive right to list their homes for 40 years.<\/p>\n\n\n\n<p>If someone lists their property for sale during these four decades and does not use <a href=\"https:\/\/preprod.realtrends.com\/blog\/articles\/answering-sellers-my-neighbor-sold-over-asking-in-one-day-so-i-should-too\/\">MV Realty<\/a> as its listing broker, or if the home is foreclosed upon, or if someone wants to cancel the deal, the company would be paid 3% of the property\u2019s value, according to the contract.<\/p>\n\n\n\n<p>The program also allows MV Realty to place a lien on the home, which makes accessing home equity through refinancing, reverse mortgages and home equity lines of credit, difficult for the owners.<\/p>\n\n\n\n<p>The Attorney General stated in the lawsuit that these liens are illegal under Florida law. It also stated the company used \u201cdeceptive and abusive telemarketing and advertising\u201d tools and propagated the program as a loan alternative.<\/p>\n\n\n\n<p>The lawsuit states MV Realty has made more than 9,123 public record filings that &#8220;cloud&#8221; homeowners\u2019 titles and that Hillsborough County is one of the counties with a high number of public record filings.<\/p>\n\n\n\n<p>Today, at least 588 people in northeast Florida and southeast Georgia have <a href=\"https:\/\/www.actionnewsjax.com\/news\/investigates\/investigates-homeowners-signed-up-quick-cash-say-they-didnt-know-about-40-year-commitment\/X2NED6D7AFGPPITSRHQQ2W3TP4\/\">signed up<\/a> to the program.  <\/p>\n\n\n\n<p>MV Realty spokesperson Diana London said the company\u2019s attorney is reviewing the complaint and that the company stands for \u201ctransparency in all of our business transactions.\u201d<\/p>\n\n\n\n<p>The attorney general has asked the judge to stop MV Realty from enforcing any further contracts under the Homeowner Benefit program, to return any money it took from homeowners and to impose civil penalties on MV Realty.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Florida-based real estate brokerage MV Realty was sued by the Florida attorney general\u2019s office for scamming homeowners.<\/p>\n","protected":false},"author":39545,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[2886],"class_list":["post-3737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v26.8) - 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