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Foreclosure fraudsters may go for the quick, small profit or angle to strip all of your equity. One of the oldest versions of equity stripping is hard money lending which, if done correctly is not illegal Other schemes are much more complex. The National consumer law center issued a report two.
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People who have no equity (or financial value) in their property and who have no hope of ever getting the Filing a Statement of Defence means that you fully intend to defend the lawsuit, and contains One of the main differences of the foreclosure process in Alberta, compared to other provinces, is.
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Protecting Your Home: Equity Stripping. By placing a large mortgage on your house, you strip it of its equity, making it a less attractive target. Using the above steps, you have effectively stripped the equity. This places the resultant proceeds beyond the reach of the courts inside of an offshore trust.
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