California lender New American Funding has partnered with EasyKnock, a New York startup that buys homes and rents them back to sellers, allowing clients to access their home equity through non-traditional means.
About a quarter of American homeowners are unable to access the equity in their homes because of strict lending standards, and EasyKnock said the partnership will “improve housing stability for our mutual customers, providing them liquidity, flexibility and control in their finances.”
Homeowners can convert their equity to cash by selling their homes to EasyKnock and staying on as renters.
“EasyKnock makes money details ⇒
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