EasyKnock has announced it is shutting down operations amid lawsuits over its residential sale-leaseback programs.
“After many years of serving consumers, EasyKnock has closed its doors,” said the New York City-based company in an announcement on its website. “We are deeply grateful for the trust placed in us to be part of the financial journey of so many. While EasyKnock may no longer be around, arrangements have been made to ensure continued services for our customers.”
The company gained prominence by promoting residential sale-leaseback programs that “can help you reach your unique financial goals by enabling you to convert your hard-earned home equity into cash.” However, an investigation by NPR sourced from lawsuits against the company determined that many homeowners lost tens of thousands of dollars in equity, with some being evicted from their properties rather than being allowed to buy back their homes. The Federal Trade Commission issued a consumer alert in October about the “risky business” of sale-leasebacks while EasyKnock faced lawsuits from consumers and several state attorneys general.
Stacey Tutt, a senior staff attorney at the National Housing Law Project, told NPR that EasyKnock’s closing should be seen as “a lesson to be learned by any other company that is operating in this space. It should be something that the industry is paying very close attention to because it is an indication that there are flaws within their model that open them up to these claims of unfair practices.”
I am also a victim of Easyknock and am currently facing issues with them. They have not closed; they are now allegedly doing business under the name NESE or with them. They are still practicing the same unethical practices that have led to many homewoners into losing their home and being homeless and losing their entire equity in their home and many more homeowners like me will become victimized by this company.
The other Brooke Littva lied to me and told me Easyknock’s sold their portfolio to NESE I knew it was a lie they was just sued in Connecticut civil court you need to file a complaint with your attorney general’s office and the FTC they must be stopped