States introducing legislation to stop deals similar to those made by MV Realty
A realty company that blindsided Pennsylvania homeowners with 40-year liens on their property has faced scrutiny for months.
PREVIOUS COVERAGE >>> MV Realty facing Congressional scrutiny following Channel 11 investigation
Pennsylvania’s attorney general and others across the county sued MV Realty and the company voluntarily gave up its practice. Now, an industry organization is taking action.
“It’s very disconnecting to see business models that seek to siphon people’s home equity,” said Elizabeth Blosser with the American Land Title Association. “Our primary purpose is to protect people’s property rights.”
The American Land Title Association has helped craft legislation that was recently introduced in the Pennsylvania House. It is designed to make similar agreements unenforceable. Other states are introducing similar legislation, including Georgia, Utah, Colorado, North Dakota and Tennessee. Some have already passed it into law.
“We think that legislators across the country should make clear that these types of unfair service agreements have no place in their state,” said Blosser.
Download the FREE WPXI News app for breaking news alerts.
Follow Channel 11 News on Facebook and Twitter. | Watch WPXI NOW
TRENDING NOW:
Baldwin woman facing felony animal cruelty charges after dog allegedly dies from starvation Driver facing citation after tractor-trailer overturns, hangs from overpass in Washington County Local school custodian accused of sexually assaulting child, arrested on campus VIDEO: Gas prices on the rise in Pittsburgh region, across US DOWNLOAD the Channel 11 News app for breaking news alerts
