News Flash

Recorder of Deeds

Posted on: January 10, 2023

MV Realty's Deceptive Homeowner Program Targets Older, Low-Income, and Minorities

Consumer Alert

As you may have heard in the news recently, the company MV Realty is targeting homeowners around the state, including Montgomery County, with their deceptive and misleading “Homeowner Benefit Program.” The company tends to target older, low-income, and predominately minority neighborhoods.

The program offers homeowners money upfront, typically between $400 and $1000, to sign an agreement in which the homeowner is locked into a contract with the company for 40 years. The payment is recorded as a mortgage, meaning there is a lien placed on the property, sometimes unbeknownst to the homeowner.

Homeowners that have been taken advantage of by MV Realty without understanding the full extent of the contract were later sued for attempting to sell their homes through another broker and forced to pay a termination fee of 3% to 6% of the property’s value, according to an article on Metro Philadelphia.

The Pennsylvania Attorney General recently announced a law suit against MV Realty for their misleading and deceptive practices against homeowners, stating the company is in violation of the Unfair Trade Practices and Consumer Protection Law.

It is highly recommended all Montgomery County homeowners sign up for FraudSleuth – a free property alert tool provided from the Recorder of Deeds office. Once you have registered, the system sends an e-mail alert as soon as something is recorded against your property.

You can also always search documents that have been recorded against your property on the Public Access System. Certified copies of recorded documents, deeds, mortgages, and satisfactions can be printed from that system for $10.50 for each copy.  You are also welcome to come into my office in Norristown, where you can search our public computers  Monday through Friday 8:30AM to 4:00PM.

If you have been affected and wish to file a complaint about MV Realty, you can contact the Pennsylvania Attorney General.

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