ATLANTA — The state of Georgia has halted the operations of a Florida-based real estate company accused of deceptive and predatory practices targeting homeowners.

A court order secured by the Georgia Attorney General’s Office requires MV Realty to stop enforcing 40-year listing agreements in the state and to refund termination fees previously collected. The ruling impacts about 3,300 Georgia homeowners.

Sarah Mancini, managing director of advocacy with the National Consumer Law Center, said the company lured clients into signing unfair contracts that functioned like liens on their properties.

“They told them that they could receive a payment with no strings attached, and it sounds like there were a number of deceptive statements or omissions,” Mancini said.

Under the agreements, homeowners received small upfront payments but faced steep costs if they tried to refinance or sell their property. Mancini noted that early termination fees were often 10 times the initial payout and could reach as high as 3 percent of a home’s value.

“The state basically required the company to cease doing this business model in Georgia and in fact to cancel all of these memorandas that are acting like liens on people’s property,” Mancini explained.

The Attorney General’s Office says the move not only stops MV Realty from pursuing new agreements but also clears existing homeowners from further financial harm.

WSB’s Jennifer Perry contributed to this story