Perry (plaintiff) was a homeowner with a high school education and two mortgages on his house. One of the mortgagors commenced foreclosure proceedings, at which point Sean Queen (defendant) contacted Perry stating he could help stop the foreclosure. Queen gave Perry approximately $6,000 to make mortgage payments and an additional $5,000 to keep. In exchange, Perry gave Queen a warranty deed to the property and agreed to lease back the property for one year. The agreement also contained a provision allowing Perry to repurchase the property by paying Queen approximately $44,000 by the end of the lease. When the lease ended, Perry had not invoked the buyback option. Queen claimed ownership of the property and sought to evict Perry. Perry brought suit, claiming the parties’ transaction was an equitable mortgage, thus imposing Truth in Lending Act (TILA) requirements that Queen had not met. Queen filed a motion to dismiss, arguing TILA did not apply, and the federal court therefore did not have subject matter jurisdiction. The property was valued at approximately $94,000.