Real Estate

EasyKnock launches solution that lets homeowners lease back their home after selling

The new solution is now available in nine states

Residential sell and lease-back company EasyKnock has added another product to its portfolio. ReLEASE provides homeowners with the option to sell their home and rent it back from EasyKnock as long as they would like, the company said.

“We’re launching this product today because Americans need options now,” EasyKnock CEO Jarred Kessler said in a statement. “Historically, financing options have been limited and lending standards have not worked in favor of the consumer. EasyKnock is here to change this with solutions that help a wider range of homeowners achieve their goals. We want homeowners to feel their financial circumstances do not have to define them.”

The product is now available for qualified homeowners in Florida, Michigan, Arizona, Colorado, North Carolina, Tennessee, Utah, Texas, and Georgia. ReLEASE is the third solution EasyKnock offers to homeowners.

Sell and Stay and MoveAbility are its other products available to homeowners. Sell and Stay offers homeowners longer-term lease options with the opportunity to buy back their home, while MoveAbility enables greater flexibility for homeowners who want to sell but are waiting for the right time to move.

EasyKnock says hassle-free options provide customers with a competitive price on their house and can close in as few as seven days.

“As the nation faces a rise in forbearance and as credit inevitably tightens, U.S. homeowners are in greater need of flexible financial solutions,” the company said in a release. “With EasyKnock, customers can use the value of their home to pay down personal debt, invest in a business, diversify retirement portfolios, make a down payment on a new home, or relocate.”

Last month, Viola FinTech added $5 million to EasyKnock’s Series B funding round, bringing it to $25 million. Kessler said this round of funding with Viola FinTech will assist consumers who have faced economic uncertainty because of the pandemic.

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