OMG...I missed this awful advice. In 5 years when that house is worth much more then it is now...the people she gave this advice will still have bad credit and will need to pay an extra couple of points in rate to get a new home.

Suze, is jumping on the media band wagon like so many other talking heads controversy sells and she is in the business of selling her books clear and simple. If you think she is out there to help the average American make good choices you are wrong there is always another agenda. Steve

I have never seen this woman, but I have a relative who quotes her all the time. If the relative is quoting her right, I think the woman gives awful advice. I spent years running a decent sized corporation and would have folded with some of her stupid advice. She seems to know lots about how to get yourself in debt, with not much interest in getting back on firm footing. Again, I am basing this on hearing about her, over and over, from a misguided relative.

Jeffrey, Mona, I am so glad to hear more Realtors up in arms, and you are so right, this kind of advice is going to put the average American in a worse position over time!

Steve, you know, that could be true, although I choose to believe that she has someone's best interests in mind (other than her own)--I think it was a not-well-researched slip--she is NOT in the lending or real estate business!

Steven, Suze often gives good advice--the transcripts for the program show her history of advising people NOT to use so much credit, and the credit card companies should stop extending it to people, but hey--they're in the business of making a buck too, right?  (or three, five, thousand...)

The lenders need to wake up.

Typical lenders have no idea what they have to do and how quickly they have to do it in order to keep people in their homes.  They are not giving people options.  We hear all the time about people who are told "We can't even talk to you about your 50% payment increase unless you are behind on your payments.

Foreclosure counselors are still having trouble getting lenders to agree to anything reasonable.

I believe that in 2007 in Arizona, there were about 70,000 foreclosures.

In 2008 that number is expected to jump much higher.

Foreclosure counselors expect to only be able to save about 4000 homes from foreclosure in Arizona.

btw, she also says to keep putting money into 401Ks and mutual funds, which is also profoundly bad advice, as is keeping cash, in a currency-based economy!

Bill, that is awful news for Austin, and markets are different in all parts of the country.  To make a generalization as she did based on one person's question, which thousands will then take to heart is just unconscionable in my book!  She is in a position of authority, and people listen!

Many members of the general public believe whatever they hear or read in the media. Just becasue it is in print, doesnt' make it right.  It is  up to us to correct their misguided notions.  Suze unfortunately is not the only one giving poor advice.  Any one considering a short sale or foreclosure should first talk to their lender, and secondly, talk to their tax attorney.

GOOD ADVICE, Carol--the absolutely first and best step is to attempt to consut with the lender, although this can be tricky for the 'uninitiated', and ALWAYS check with your accountant and/or legal representative!  Whatever you do, don't just take the word of ANY media as the best source!

Meee to Loretta!   VERY DISAPPOINTING!    Perhaps Suzie should take out her own mortgage (or maybe she doesn't even have one!) and read that provision that states the bank CAN come after you for Diffiency JUDGEMENT Balance, and if awarded they can do many things such as:

• Garnish wages
• freeze your bank account
• Keep Tax Refunds

Can you even believe that, Katrina?!  Here we are, working our butts off to try and save as many homeowners as possible from losing their a**es and credit and possibility of a future home purchase, and she (who has the ear of TEEVEE viewers) tells them to send "jingle mail"!  AiYiYI!!