Jim Cramer Should Should Stick to Stocks

I just read an article on The Street.com about how Jim Cramer advised owners who were underwater with their equity to consider walking away and giving the house up to foreclosure. I don't think it very good advice at all. It will blast your credit score forever (or at least the next 7 years), potentially open you up to litigation from your lender, and force you to give up your home. If you purchased properties to flip then I guess it's okay, but if it's your home, it seems like awfully impractical advice.

I don't know what someone does if they are underwater in their equity and can't make the mortgage. It's tough, really tough but advising them to walk-away isn't the right call either.