Ohio attorney general files lawsuit against MV Realty

11 Investigates has learned that the state of Ohio is now taking action against MV Realty.

This marks the fourth state that is suing the company. Ohio’s attorney general called MV Realty’s business model “shameful” and “deceitful,” and accused the company of “tricking people to make money off of their homeownership.”

Homeowner after homeowner told Channel 11 the same story. They thought they were getting quick cash from MV Realty, and all they had to do was agree to use them as their realtor if they later decided to sell their home.

What homeowners say they didn’t understand was the contract they signed with MV Realty lasts for 40 years and is secured with a lien attached to their property.

Our investigation found the company has filed lawsuits seeking tens of thousands of dollars from homeowners across the United States, including here in our area.

MV Realty’s website says the company operates in 33 states.

We teamed up with our sister stations across the country to investigate the company’s business practices. We talked with homeowners who signed contracts with mv realty, interviewed former company insiders, and researched thousands of documents, including more than 12,000 liens on properties in seven states.

Attorney generals in Pennsylvania, Massachusetts and Florida filed lawsuits against the company in December, those suits also seek to void existing contracts and ask the court to order civil penalties.

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