25 Investigates

Florida A.G. asks to freeze assets of real estate company with controversial contracts in Mass.

In the ongoing probe of a contentious real estate company doing business in Massachusetts, Florida’s Attorney General has now asked a judge to freeze the company’s operations and assets.

MV Realty is facing new legal action in Florida, the state where the real estate company is based.

State authorities are accusing MV Realty of duping thousands of homeowners into signing sales contracts on their homes for a small amount of cash upfront. What the homeowners are really signing for amounts to a 40-year lien on their property, 25 Investigates found.

Boston 25 News has been reporting on this problem for nearly a year.

More than 400 Massachusetts homeowners signed contracts with MV Realty, many of whom were elderly and low-income.

In March, a Massachusetts superior court judge issued a preliminary injunction that effectively blocks MV Realty from doing any business in the Bay State. However, many clients are still bound by the agreements.

Earlier this week, a letter from three U.S. Senators pressed for answers from the company after discovering that even though MV Realty has suspended new enrollment for now, the company still continues to advertise.

MV Realty has maintained to 25 Investigates it’s confident the “homeowner benefit program” fully complies with the law and says it will cooperate with both lawmakers
and law enforcement.

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