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 ?
Barry Simpson, racing manager to owner Sir Robert Ogden said: "I think the aim with Exotic Dancer is the totesport Bowl where he will face Denman.
Plagued by back problems last season, Exotic Dancer was never at his best - and he was a spectator as Denman powered away to beat Kauto Star and Neptune Collonges in the Gold Cup.
"Exotic Dancer was poised to challenge and we were in the right place so who knows what would have happened."
Future plans remain undecided but Exotic Dancer was trimmed to 12-1 from 33s with Ladbrokes, and the same price from 20-1 with Coral, for the Cheltenham Gold Cup - a race in which he finished runner-up last year.
The pair last met in the totesport Bowl Chase at Aintree last April, when both had to give best to Our Vic - although Exotic Dancer finished some 14 lengths adrift of the front two in third.
King George: 4-5 Kauto Star, 11-2 Exotic Dancer, 6 Taranis, 7 My Way De Solzen, 8 Racing Demon, 20 Our Vic, 50 Lord Jay Jay, 66 Hi Cloy (1-5 odds 1,2,3).
Exotic Dancer's trainer Jonjo O'Neill said: "Take nothing away from the winner, but I'm absolutely thrilled with our boy still - he's run a blinder." Michael Hourigan was delighted with Beef Or Salmon, who stuck on well to claim third - 18 lengths behind the principals.
Trained 20 minutes up the road by Jonjo O'Neill, Exotic Dancer has won three times at Cheltenham this season and the course plays to his strengths.
TONY McCoy and Jonjo O'Neill foiled an ante-post gamble on Vodka Bleu as Exotic Dancer stormed to victory in the Paddy Power Gold Cup at Cheltenham.
The exotic dancer was shot for spying in World War I, although her guilt was never proven.
Since mid-November, Minister Sgro has found herself trying to defend the granting of a visa extension to a Romanian "exotic dancer" who worked on her re-election campaign.
Norwegian prisoners enjoyed a performance from an exotic dancer during their monthly culture night last week.