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Equity Stripping This is the practice of lenders encouraging you to cheat on the
form saying such things as "don't worry, we won't take your house" or
"It doesn't make a difference. You can afford it" This is a clear way
for the lender to try to get you to default on your loan and then take the
equity that you have built up in your house. If you can't make the payments
without lying, then don't get the loan! |
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A lot of the information on this site was taken from the FTC. Some of it copied directly. If you want, call them at 1-877-FTC-HELP |