Suze Orman

And now they can't get a home equity line of credit.

Why?

Because they don't have a job anymore.

They don't have income, even though they had a lot of equity in their home.

But now what happens is if they don't have the money to pay that mortgage, please listen to me closely.

This happened over and over again.

And I'm not saying it's going to happen to you, but just know the possibilities out there.

Because do you really know the finances of your neighbors, of the homes on your block?

Do you?

Because if any of those homes near you have to go into foreclosure and there is a fire sale on that house, the value of the house that went into foreclosure, that is the comp that's going to take over the value of your home.

Did you understand what I just said?

So while everybody may think everything is great, everything is exactly how it should be,

If somebody around you happens to go into foreclosure, it will affect the value of your home, whether you know it or not.

You know, one of the favorite topics that I've always talked about is to invest in the known versus the unknown.

So I want you to start to write things down right now.

What is known in your life right now?

Hopefully you know you have a job.

You have income coming in.

So you have income to pay your mortgage.

You know the approximate value of your home.