A Georgia judge issued a ruling against Florida-based real estate company MV Realty.
It’s a win for homeowners who have been fighting to sell their homes or get their money back.
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Action News Jax’s Emily Turner, along with other investigators from our sister stations across the country, has been investigating MV Realty and its 40-year listing agreements for the past three years.
Action News Jax told you in February when then-Florida Attorney General Ashley Moody stopped MV Realty from enforcing its costly contracts and collecting any more money from homeowners in the Sunshine State.
Now, Georgia homeowners who signed contracts with MV Realty can breathe a sigh of relief, as they are free to do with their homes as they please.
CLICK HERE TO READ THE JUDGE’S ORDER
MV Realty offers quick cash to a homeowner for the promise of being their realtor if they ever sell their home.
But homeowners like Sheila Feliciano say they had no idea it was a 40-year deal and if violated, the company would put a lien on their home.
“It was a sweet, fast talk, you know?” Feliciano said.
With this judge’s ruling, that can’t happen again in Georgia. The decision allows homeowners to get out of their 40-year contracts and dismisses any lawsuits MV Realty has filed against Georgia customers.
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The company will also not be allowed to attempt to get any commission back or charge consumers a termination fee or other penalty.
“MV Realty’s predatory loan scheme put thousands of Georgians at risk of losing everything they had worked so hard to earn. We took action to protect homeowners across the state, and we were able to deliver critical relief when they needed it most. This is a major win for families and seniors, and we’ll keep fighting for them each day,” Georgia Attorney General Chris Carr wrote in a statement.
This move comes in the wake of our national investigation with our sister stations. Our reporting led Attorneys General in 12 states, including Georgia, to sue the company.
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Twenty-nine states, including Georgia, have passed laws targeting the company.
There may be more to come. The order calls for a hearing to be held at a later date to determine civil penalties.
Click here to see our award-winning past coverage of MV Realty.
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