MV Realty, sued by Massachusetts after I-Team investigation, files for bankruptcy
BOSTON - MV Realty, the real estate company accused of duping homeowners into 40-year listing agreements, has filed for bankruptcy in 33 states including Massachusetts.
In 2022, the WBZ I-Team found dozens of homeowners who signed agreements with MV Realty to sell their property sometime in the future. What they didn't know was the agreement included a lien on their house that gave the company a cut of the sale whenever it was sold in the next 40 years.
The I-Team brought those complaints to the Attorney General's office and the state sued MV Realty.
In March, a judge sided with the Attorney General and ordered MV Realty to stop putting mortgages on financially strapped homeowners' properties and to release the liens it currently had.
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