I did alot of business with them during the real estate boom.

I'd bet somewhere during the boom she did a cash out refi or a HELOC and there are more loans than the original one you list.

I have owned one condo prior to the boom I bought in 2003 and sold it in 2006 for Double what I paid for it.

When the economy was booming I used this as a method to make tax-free money.

Will, This was like 15 years ago, before the boom, early on in our careers with 2 small children and my husband with a job that took him away a lot.

A few blocks away is a booming area with high rise apartments and mixed use developments.

As a result, this could be a near term boom for the local real estate market because of the investment and consumption dollars being spent at the resort.

That market is now booming again so to be recession proof I would have some funds in overseas real estate.

But for someone like myself who plans to not "get out" for another 30-40 years short term booms and busts aren't of much concern other than potential buying opportunities like in early 2009.

The tenant had a home OWNER mentality, but got caught up in the housing boom and lost his home to foreclosure 3 years ago.