by: Jesse Ullmann
Posted:
Updated:
CHARLOTTE, NC (QUEEN CITY NEWS) — Charlotte is one of the largest markets included in a lawsuit against a realty company that deceived homeowners going through financial peril, according to the North Carolina Attorney General’s Office.
BE THE FIRST TO KNOW: Sign up here for QC News Alerts and get breaking news sent straight to your inbox
According to the AG, MV Realty is accused of using prohibitive, unfair, and deceptive practices by abusing phone solicitations and tricking homeowners into signing oppressive realty agreements.
“We allege that MV Realty is preying on vulnerable people to trick them into unfair, long-term agreements,” Attorney General Josh Stein said.“
Records showed MV Realty began operating in 2020 and has over 2,100 state residents signed up for their ‘Homeowner Benefit Program.’ The program targets homeowners in financial peril and in need of cash.
The company is accused of deceptively locking clients into a 40-year deal and charging them up to ten times the upfront payment amount.
The lawsuit stated Charlotte and Wake County are two of MV Realty’s largest markets.