[heartwood]

Debt is not all the same debt. If you can't pay for your credit card purchases, they can't take your home.

[HonkyTonkMan]

You are correct to an extent. However it's still debt owed by the consumer. You trade in high-rate cc debt for extended terms against a mortgage.

More disturbing is the interest only loans folks are taking. As the market cools and interest rates rise, living paycheck to paycheck is going to get tougher and tougher.

I like the advice of another poster - have one home you can fall back in if need be.

[Roberts]

Not directly, but if someone is in over his/her head with debt, their home will be at risk via a judgment recorded against their property. Furthermore, it is unbelievable that people can't see the wisdom of eliminating debt as an end unto itself.