OK, folks. THEY'RE in THEIR yard over THERE. YOU'RE in YOUR yard. I'm going to go LIE down after I LAY my wallet on the table. If you have a LOOSE tooth, you may LOSE it. *** There, I'm finally got that off my chest.
Of course, it's pretty funny that he should have said "I've" in that last sentence.
When people correct my grammar and spelling I always appreciate it, we all (or most) have things we either missed or our brains twist around and can't remember. I've seen loose used wrongly so many times after 17 years on the web that there are times when I have to think about which one to use.
And I have Dan to thank for knowing when to use it's and its.