Preliminary injunction issued in NC against company Action 9 investigated

NORTH CAROLINA — North Carolina Attorney General Josh Stein said a judge has issued a preliminary injunction against real estate company MV Realty.

Jason Stoogenke first reported on the business last year. That sparked Stein’s lawsuit and a new law in North Carolina that prohibits long-term real estate contracts like the ones MV Realty used.

PREVIOUS COVERAGE:

• Action 9 investigation sparks new NC real estate law
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MV Realty offered homeowners fast cash in exchange for exclusive rights to sell their homes for 40 years.

The company emailed Jason, saying out of its more than 2,200 customers in the state, fewer than 2.8% filed complaints with the attorney general. The company said those complaints don’t show “proof of deception or abusive practices.”

In a statement, Stein applauded the decision.

“I’m pleased that Judge Davis agreed with our office that MV Realty cannot continue to take advantage of hardworking homeowners while this case continues,” it reads. “This company has preyed on too many North Carolinians, and we’ll do everything in our power to provide relief for the more than 2,000 victims and to make sure that they can’t harm others in our state ever again.”

MV Realty said it’ll keep fighting this in court.

(PREVIOUS: Senators call on consumer protection agencies to investigate exclusive real estate listing agreement)

Senators call on consumer protection agencies to investigate exclusive real estate listing agreement

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