Stripper

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Stripper

Informal for a homeowner who re-finances his/her property in order to access the equity and spend it on consumer goods rather than investment. A stripper, rather than investing wisely with the equity, squanders his/her wealth while increasing debt. There are two main risks associated with being a stripper. The first is the possibility that the value of the home will begin to decrease, which will prevent any more re-financing. The second is the possibility that interest rates will rise, preventing re-financing at an affordable rate. Since many strippers live above their means, the realization of either of these risks could be devastating.
References in periodicals archive ?
Made up of five Canadian ecdysiasts (the technical term for performers who shed clothes to music) the Society has been wowing crowds across North America since 1997.
Highly entertaining docu "A Wink and a Smile" provides an eye-opening lesson in the theory and practice of stripping--as taught by fan dancer extraordinaire Miss Indigo Blue, headmistress of Seattle's Academy of Burlesque, and illustrated onstage by the city's foremost ecdysiasts, from Inga Ingenue to Ernie von Schmaltz.