ITALIA APARTMENT

Equity stripping scam is also known as equity skimming and some call it foreclosure rescue scam when low-income people face foreclosure. This scam normally occurs when the homeowner has entered a complicated transaction with the lender. It is often referred to as a form of predatory lending, began in the early 200s, and performed by investors or small companies that take homes from foreclosed owners in exchange for letting the owner stay in the home as a tenant.

A few years ago, the real estate bubble had not yet emerged. Instead, there was a more flat, tempered housing market where home values were not rising at the pace experienced after the boom and subsequent bubble. That was then.

This is now.

Unlike the trend home buyers and sellers observed associated with an economy propped up by quickly increasing home equity values, the opposite is now the case. In fact, some might argue that the downhill ride back to more stable home values has been, and will continue to be, a steeper more painful slope than the angle at which the economy first rose. According to an article written by Michael Carliner at Bloomberg.com, homeowners might end up having homes underwater for a number of years: