Asset protection maneuver which occurs via two methods: 1) a mortgage lender or private party extends credit or a loan against existing equity to homeowners attempting to avoid creditor collection activities. (The additional encumbrance makes the property unattractive to creditors) or 2) through a process whereby a third-party purchases the house for the mortgage balance and sells it back to the homeowner, charging fees that strip equity from the homeowner. Also called equity skimming.
Related information about equity stripping:
- Equity stripping - Wikipedia, the free encyclopedia
Equity stripping, also known as equity skimming, is a type of foreclosure rescue scheme. Often considered a form of predatory lending, equity stripping became ...
- Equity Stripping Definition | Investopedia
The process of reducing the overall equity in a property in order to avoid creditors . The theory behind equity stripping is simply that by reducing your interest in a ...
- Equity Stripping Leaves Creditors Empty-Handed
Sep 9, 2009 ... Add additional debt to your real estate assets to keep the creditors at bay.
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Mar 21, 2009 ... Equity Stripping One of the oldest asset protection strategies is equity stripping. From the minute a person determines that he has equity in an ...
- Equity stripping for asset protection planning
Equity stripping of real estate and other assets for asset protection purposes using mortgages and UCC liens.
- Equity Stripping / Equity Reduction Plan / rjmintz.com
Equity stripping combined with an Equity Reduction Plan (“ERP”), is a highly effective and sophisticated form of asset protection.
- Asset Protection: Concepts & Strategies • View forum - Asset ...
Asset Financing and Equity Stripping. Forum rules The information given on this page is for educational and informational purposes only, and does not constitute ...
- Equity-stripping: An asset protection technique | The White Coat ...
Aug 3, 2012 ... Reducing your assets exposed to a lawsuit can minimize your losses or even stop the lawsuit. Equity-stripping is one technique to do so.