Exposing Suze Orman's LIES!

Recently Suze Orman (“self-proclaimed financial guru”) gave some real estate advice and let’s just say I had a hard time finding ANY common ground. Not only was it bad advice, 😬 it displayed a very limited understanding of how real estate actually works. ➡️ If you want to know the truth about current real estate market conditions and how they compare to 2007 & 2008, and if you want to know how the real estate market actually works from someone who is not fear-mongering to sell a book, check out this video!

Here is a break down of what she said with timestamps so you can easily find the truth!
0:00 - Intro!
0:36 - SUZE SAID: "I would absolutely wait until September, October, November of this year, before I even consider buying a home."
0:54 - SUZE SAID: "One concern is property values. Many people will have to make up their missed mortgage payments around the time federal unemployment is scheduled to stop on July 31. This puts them in a difficult financial position, especially if they're still out of work. It's not impossible that your neighbors might have to foreclose on their home."
1:13 - [Assumption 1: Forbearance repayment is Due Immedately]
1:46 - [Assumption 2: Those who missed their mortgage payments don't have a job and own a home]
2:10 - SUZE SAID: "Here's the problem: Let's say you paid $300,000 for a home today, and your next door neighbor is out of work due to the coronavirus and can't afford to make mortgage payments, so they foreclose on their home. That house goes for $150,000."
2:31 - [Assumptoin 3: A Bank is Willing to Lose 50% of the home value in the sale]
2:37 - [Assumption 4: Under-Priced Properties Sell Below Market Value]
3:23 - [Assumption 5: A Foreclosed Home Sells Undervalue Just Because it is Foreclosed]
3:46 - SUZE SAID: "Do you know what that just did to the property value that you just bought? Your property now is worth $150,000. Because when somebody goes to check the latest comp, they're going to see, 'Oh, well the house next door sold for $150,000. The house down the block just like yours sold for $150,000. There goes the price of real estate."
4:07 - [Assumption 6: You Have "LOST VALUE" on Your Property, Even if You Don't Sell It!]
4:31 - [Assumption 7: If you DID Sell, an Appraiser Would Use the Foreclosed/Distressed Sale Price to Value YOUR Home]
4:58 - SUZE SAID: "And that's exactly what happened in 2007, 2008."
5:18 - [What lending kinda looked like in 2007/2008 - No Doc, Stated Income Loans]
6:12 - Actual Market Conditions for 07/08
6:44 - What the market is CURRENTLY like
7:08 - But what if EVERYTHING SUZE SAID was absolutely true??

[RayCreative]

Here is a break down of what she said with timestamps so you can easily find the truth!
0:00 - Intro!
0:36 - SUZE SAID: "I would absolutely wait until September, October, November of this year, before I even consider buying a home."
0:54 - SUZE SAID: "One concern is property values. Many people will have to make up their missed mortgage payments around the time federal unemployment is scheduled to stop on July 31. This puts them in a difficult financial position, especially if they're still out of work. It's not impossible that your neighbors might have to foreclose on their home."
1:13 - [Assumption 1: Forbearance repayment is Due Immedately]
1:46 - [Assumption 2: Those who missed their mortgage payments don't have a job and own a home]
2:10 - SUZE SAID: "Here's the problem: Let's say you paid $300, 000 for a home today, and your next door neighbor is out of work due to the coronavirus and can't afford to make mortgage payments, so they foreclose on their home. That house goes for $150, 000."
2:31 - [Assumptoin 3: A Bank is Willing to Lose 50% of the home value in the sale]
2:37 - [Assumption 4: Under-Priced Properties Sell Below Market Value]
3:23 - [Assumption 5: A Foreclosed Home Sells Undervalue Just Because it is Foreclosed]
3:46 - SUZE SAID: "Do you know what that just did to the property value that you just bought? Your property now is worth $150, 000. Because when somebody goes to check the latest comp, they're going to see, 'Oh, well the house next door sold for $150, 000. The house down the block just like yours sold for $150, 000. There goes the price of real estate."
4:07 - [Assumption 6: You Have "LOST VALUE" on Your Property, Even if You Don't Sell It!]
4:31 - [Assumption 7: If you DID Sell, an Appraiser Would Use the Foreclosed/Distressed Sale Price to Value YOUR Home]
4:58 - SUZE SAID: "And that's exactly what happened in 2007, 2008."
5:18 - [What lending kinda looked like in 2007/2008 - No Doc, Stated Income Loans]
6:12 - Actual Market Conditions for 07/08
6:44 - What the market is CURRENTLY like
7:08 - But what if EVERYTHING SUZE SAID was absolutely true??

[Shainnelle]

I never bought any of her books. I waited till the library had the books to go check her info out. I'm glad I spent my money on something else.

[Untilsheputherfootdown]

They need to put her in jail for her debit card scam.

[franciscorichard]

Suze works on fear. That's what she's good at and just like a horror movie, people want to get scared which I find weird.

[jdstep]

I still like to hear what Suze has to say sometimes. She can offer some good advice, or at good food for thought. However, I'd not put my full trust in that women. She schemes. That Approved Prepaid Debit Card, of hers, claiming to help raise your FICO score, was one of the biggest con-jobs of all times.

[justanotherperson]

She is the last person to take advice from. She care about She needs to go to jail for scamming people.

[tripillthreat]

Anyone looking into Suze Orman’s background will discover that she has a long history of giving bad advice about things she has no expertise in. Not to mention the fact that she preyed upon people with low credit with her pre-paid debit card.

[ianforsyth]

A no doc loan is not the same as a stated income loan. A stated income loan does require some documentation, but not for income--they'll still do a credit check though and even during the loose years, they asked for an accountant's letter. A true no-doc loan will require little to no documentation. No income is verified, no assets are verified, no job is required.

[MalcolmLawsonREALTOR]

I can buy any home I want for 50% off in November! Heck yeah, sign me up!

[ramyd]

EVERYTHING SHEEE Said Was a I FELT 🙄 CHEATED‼️ please!

[ramyd]

IN MIAMI 2005-2006 went like thiss”:
Hey dude u a broker? Ok I need a house,
My credit is 250 & I just graduated from elementary school.. PERFECT 👌 I CAN GET U A $5 million dollar house 🏡.. THANKS 😊

[NickGood]

great job explaining this! I couldn't believe what she posted either and had to put out a video on this as well!

[ardalla]

Orman has made millions by essentially stating the obvious. I don't know why anyone pays any attention to this woman. Offhand I can't think of another example of someone who has made so much money and done so little to deserve it. Even John Madden had some insightful things to say every once in a while.

[chrishansen]

This lady is one slick con, baby, and I've been watching her operations for over a decade. She's loud, brash, overbearing, full of herself and her own self-importance, and most importantly supremely confidant in her demeanor, very much like another con of the first order Elizabeth Holmes. Just watching her speak you can tell she is a real pro at the long con, no mere grifter here. She's a woman with the financial cred of a BA in social work (amazing!) and 5-6 years as a table jockey (what field work!) to figure out how the financial system works...with a little help from some other con job of some kind or another she did to get work at Merrill Lynch to learn enough to be dangerous. But despite her lack of letters, she's not stupid, not in the slightest. It takes a sharp and devious mind to run the kind of hustles she's done, got to give her due for that.

She then brashly won over the usually gullible marks we have in the entertainment industry these days like Oprah et al., to spread the con to the masses as a guru of some kind. Why in god's name do people even give more than a passing thought to the opinions and thoughts of these overpaid entertainers over actual professionals? A question of the times I suppose. Small wonder that flim-flam artists like Orman can push their opinions and advice to people who seem to want to buy anything with varnish on it. And with the likes of Oprah and Elizabeth Warren in her corner, this slick operator will continue to get away with hurting more people's wallets while she laughs all the way to the bank. A real pro.

Anyway, good on you for calling her out on this latest of her plays. Let's see where it leads us, and what helpful tool or aid or advice that she will sell us to help us all get (her) rich(er) in these troubled times.

[TimMacy]

I’ve seen a lot of people taking some bad advice lately.

[cheerry]

Lol.. Just bad speculation form Suze. I wouldn't consider that a liar.

[jmorris]

RE: assumption 4, I bought a house in Vegas in 2006 for 320k and short sold it for 110k in 2011. It was fairly common for houses to sell for 70% off the 2006 prices. It’s unlikely to happen unless a major collapse happens. With that said, Orman is a scammer.

[yolysantana]

You are 100 percent on the money.... In fact the prices got even worse! I bought my home in September because that's what worked out for me but I have noticed since then, that the prices are even more inflated as inventory continues to be low and there are low interests rates and tons of qualified full of shit....and the bottom line is no one can predict with full certainty the direction things will go, so people should buy if and when it fits their needs and are able to do so. I honestly think that its best to buy at this time for a long term investment, however i have also seen some people make considerable amounts of money with buying and selling even in the past year. So....bottom line, do what's best for you.

[salesperson]

How quickly you forgot about the housing bubble crash of 2008. Those houses sold for alot less than what they were bought for

[vrijmatipersaud]

Honestly this is insane. I am thinking how come this woman is not in jail for all of this scams?