Missouri Attorney General Andrew Bailey filed suit against MV Realty for its deceptive practices in marketing its services to Missouri homeowners.
“As attorney general, I will enforce the laws as written and defend innocent Missourians from being ripped off,” Bailey said. “I’m proud of the work done by our consumer protection unit to obtain justice for victims in this case. The attorney general’s office will continue to do everything in our power to protect Missourians from deceptive business practices.”
The petition alleges that MV Realty, in violation of Missouri law, paid homeowners a tiny percentage of the value of their homes in exchange for a promise that the homeowner would use MV Realty as their brokers when they sold their homes. MV Realty described the agreement over the phone to thousands of consumers, many of whom had registered their numbers on Missouri’s No Call list.
Bailey’s announcement stated MV Realty then sent notaries to meet with the homeowners in their homes, where the notaries claimed to be unable to answer any questions about the contract. The petition further alleged that MV Realty failed to tell the homeowners that the contract would be enforceable against their heirs after their death, that the contract bound them for 40 years, and that it would result in a lien being placed on their homes. In some instances, MV Realty falsely told homeowners that MV Realty would not place a lien on their homes, and that they would never have to pay the money back.
The petition asked the court to order that the liens be removed, to declare that the agreements are void and unenforceable, to provide restitution to consumers who have been charged unlawful cancellation penalties, and to order that MV Realty pay fines and penalties, including $213 million in penalties for calling homeowners on the No Call list.
Bailey is the 10th attorney general to sue MV Realty over its Homeowner Benefit Program. The other attorney generals who filed suit include New Jersey Attorney General Matthew Platkin, Florida Attorney General Ashley Moody, Massachusetts Attorney General Maura Healey, Ohio Attorney General Dave Yost, Pennsylvania Attorney General Josh Shapiro, North Carolina Attorney General Josh Stein, California Attorney General Rob Bonta, Indiana Attorney General Todd Rotika, and, most recently, Georgia Attorney General Christopher Carr.