Not to get myself involved in this argument, but there is a difference between an S Corp and an LLC. When incorporated in an S Corp, the only property people can come after are any properties that are part of the corporation. Therefore, the only way they could take your house is if you deeded it to the corporation at some point.

From a legal resource center:

"The primary benefit of incorporating is to protect your personal assets from potential liabilities that could occur in your business. Without the protection provided by a corporation, creditors or other claimants of your business can attach personal assets including garnishment of personal salary, attachment of personal bank accounts, attachment of your home in most states, and seizure of other personal assets,. If you are operating as a sole proprietorship or as a partnership your personal assets are vulnerable. By forming a corporation and following all corporate formalities, you insulate yourself from personal liability. The only amount you have at risk is property and investment that you put into the corporation."