EasyKnock's sudden closure follows scrutiny from state regulators, particularly over claims of deceptive practices that stripped consumers of their home equity and unfair rental terms.
The company, which allowed homeowners to sell their properties to retain residency as renters, faced allegations of deceptive practices by states and various consumer lawsuits.
Despite recent funding up to $28 million, the Business model faced significant challenges following a settlement regarding its allegedly unfair practices towards consumers.
Amid its acquisitions and expansions, EasyKnock's operational model came under fire from regulators and consumers, leading to their eventual shutdown.
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