Attorney General Todd Rokita has filed a lawsuit against MV Realty in an effort to stop the company from negotiating contracts that violate Indiana law. The company is based out of Florida, but it operates in Indiana and several other states.
“Hoosier working men and women go through enough,” Attorney General Rokita said. “Using more than 10 million robocalls to solicit customers and then deceiving them is not a business model that should be tolerated in Indiana.”
The lawsuit alleges that the company purports to offer “loan alternatives” in exchange for consumers agreeing to use MV Realty as their exclusive real-estate listing broker. In addition, the state alleges that MV Realty’s Indiana brokerage license has expired and they are unable to engage in the practice of real estate in Indiana.
The agreement signed by Hoosier homeowners is the equivalent of a high-interest mortgage, backed by the recording of the contract against their real property. Attorney General Rokita and his team are seeking a permanent injunction against MV Realty to 1) stop them from continuing to illegally solicit Hoosiers on the Indiana Do Not Call List and the Federal Do Not Call Registry and 2) to force them to discontinue collection activities. The Attorney General’s Office is also seeking an order to discharge all liens recorded against homeowners’ properties.
Indiana currently has approximately 366 households in at least 65 counties affected by MV Realty’s dubious practices. These long-term agreements not only affect the homeowners who sign them but also the homeowners’ heirs. When owners pass away, the heirs of the estates are also on the hook to deal exclusively with MV Realty.
Hoosier consumers who have been affected by a contract with MV Realty are encouraged to file a complaint with the Attorney General’s Consumer Protection Division.