Seven Simple Lessons Learned from a real estate insider...

1. Property values don't always go up.

2. Use common sense when buying anything. If you don't have common sense, borrow it from someone who does.

3. Be prepared for the worst case scenario. Assume it will happen and make sure you are ready.

4. Talk to a CPA and a bankruptcy attorney before you, "let the house go back to the bank."

5. Understand how the banking system really works by watching the classic, "Money as Debt."

7. Explore the Loan Modification process only with an attorney that knows what he is doing.

Long Beach, Ca. Following the current equity markets and correlating them to the fact that real estate foreclosures are up over 80% this year over last is like watching a slow moving train wreck happen in real time. The first sound of crunching metal on the rail lines could be heard back in the fall of 2006. Yes, almost two and one half years ago, we began to fill the pinch first in the mortgage markets and credit crunch and then soon after in the real estate markets. I began to avidly watch: The Mortgage Ledger's mortgage implode-o-meter. You can follow this link to see all the banks that have failed since the Fall of 2006. To continue reading this article, which is full of many other priceless nuggets of golden wisdom, go to: www.longbeachrealestateandloans.com