NPR: Senators launch probe into sale-leaseback company, citing NPR's reporting
EasyKnock says its sale-leaseback deals have helped hundreds of people improve their finances. An NPR investigation found some homeowners who enter into these deals lose tens of thousands of dollars and few buy their houses back.
A group of U.S. Senators has launched a probe into a now-defunct real estate company that offered homeowners a chance to "unlock" their equity through a unique sale-lease arrangement, but which an NPR investigation found cost some residents thousands of dollars and sometimes their homes.
This is the latest development in a series of challenges for EasyKnock, which announced its sudden closure earlier this month.
In a letter to EasyKnock on Monday, citing NPR's reporting, senators expressed concern about how these deals have affected homeowners who turned to the company in moments of financial stress. They asked what the closure will mean for people who are still renting homes they sold to the company.
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Read the full story here.
By: Caitlin Thompson
Source: NPR
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