The acquisition will further expand EasyKnock’s product suite of financial solutions to address the U.S. trapped equity crisis
EasyKnock, the first technology-enabled residential sale-leaseback platform, today announced its acquisition of Balance Homes, a provider of home equity co-ownership solutions built with the mission to provide a more affordable, flexible way to own a home.
“Acquiring Balance Homes complements EasyKnock’s existing sale-leaseback offering by providing homeowners additional options to convert the equity that is rightfully theirs into cash for their current needs,” said Jarred Kessler, CEO and founder of EasyKnock. “We are equally as excited for Balance Homes Co-Founders Judd Schoenholtz and Aaron LaRue to step into executive leadership roles to further elevate EasyKnock’s solutions built to help Americans nationwide. This acquisition is the next step on EasyKnock’s clear path to lead the industry as the first platform to offer customers alternative solutions to buy and sell, finance new homes and utilize their equity in one place.”
With interest rates rising and the denial rate for HELOCs at an alarming 46 percent, American homeowners are even more in need of a new way to convert their equity. With the Balance Homes co-ownership product, EasyKnock customers can now receive a co-investment in their homes, which helps them to reach their goals without having to increase their debt or leave the homes they know and love.
Balance Homes CEO and Co-Founder Judd Schoenholtz will step in as EasyKnock Chief Revenue Officer (CRO), alongside Balance Homes Co-Founder Aaron LaRue, who will join as Chief Technology Officer (CTO).
“We are thrilled to bring Balance Homes’ unique co-ownership product, technology and team into EasyKnock,” said Judd Schoenholtz. “EasyKnock and Balance Homes share the vision of empowering American homeowners, providing new innovative solutions to access their equity, and together, we can help more homeowners.”
Deal terms were not disclosed.
About EasyKnock
EasyKnock is the first-to-market, technology-enabled residential sale-leaseback company in the U.S. Through innovative and accessible solutions, American homeowners who sell their property to EasyKnock can remain in their homes as renters while still getting the cash they need to pursue their financial goals. Headquartered in New York City and founded in 2016, EasyKnock has team members nationwide working to help homeowners unlock their financial freedom through non-loan programs so they can pay off debts, buy their dream home, fund a venture, and more - all while maintaining the ability to stay in their homes and communities. For more information, please visit www.easyknock.com.
About Balance Homes
Balance is a more flexible and affordable way to own a home that replaces lending with a co-ownership program, providing home equity access to the millions of U.S. homeowners who can’t qualify for a traditional cash-out refinance due to a low credit score.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231205421682/en/
Contacts
Media
Kara Schniepp
EasyKnock
press@easyknock.com
