Massachusetts Attorney General Andrea Joy Campbell has taken action against EasyKnock by imposing a hefty fine of $200,000 and demanding an immediate halt to the company’s sale-leaseback initiative within the state. This move showcases the Attorney General’s commitment to protecting consumers from potentially harmful practices within the mortgage industry.

The penalty and restraining order come as a result of concerns raised regarding EasyKnock’s sale-leaseback scheme. Under this scheme, homeowners were enticed to sell their properties in exchange for continued occupancy as a tenant, with an option to repurchase their homes at a later date. However, the Attorney General’s investigation found that this arrangement may have misled homeowners, potentially leaving them exposed to financial risks and uncertainties.

Key points from the text include:

– Massachusetts Attorney General Andrea Joy Campbell fines EasyKnock $200,000 and demands an immediate end to their sale-leaseback practice.
– The sale-leaseback initiative allowed homeowners to sell their properties while continuing to occupy them as tenants, with an option to repurchase at a later stage.
– Concerns were raised about potential risk and uncertainty for homeowners participating in the scheme.
– The Attorney General’s actions demonstrate a commitment to safeguarding consumers within the mortgage industry.

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