Finance
What is 'equity stripping' in the context of predatory lending in Idaho?
AReducing home equity through normal amortization
BPredatory practice of convincing homeowners to take out loans secured by home equity that they cannot repay, resulting in foreclosure and loss of the home✓ Correct
CA legal strategy to avoid creditor claims
DRefinancing to extract equity for investment
Explanation
Equity stripping is a predatory lending practice where unscrupulous lenders push homeowners into high-fee, high-interest loans they cannot afford, ultimately stripping them of their home equity through foreclosure.
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