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equity stripping |
Also found in: Wikipedia | 0.01 sec. |
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equity stripping A term applied to a variety of sleight-of-hand practices,most often: • Offering to assist homeowners facing foreclosure through buying their home and then selling it back to them, usually at rates and on terms guaranteed to result in default and loss of all equity • Protecting assets from creditors by encumbering the equity with loans from friendly creditors, such as relatives, who won't foreclose if you miss a few payments Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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