I'm stuck not because of credit or income but because my neighbors walked away from their homes leaving values to plummet.

You want to invest in Denver when the market here plummets.

---- and the wood-moisture-content of our floor system plummeted resulting in no mold/rot worries. 

-----------The Boston Condo had a HUGE 30 yrs assessment in 2007-8, our condo prices plummeted.

They should not be able to accelerate the loan on a whim, though, or because rates change or the value of the underlying asset plummets, unless of course there is a specific clause in the loan stating they have that right.The same should be true of a HELOC.

All the while, large layoffs were happening in droves, house values were plummeting, and due to the credit crunch, a lot of homeowners couldn't refinance. 

This would allow you to become a reit professional and gain further tax write offs.3) During the last crash of 2007-2009, markets plummeted 60%.

The association started a rigorous tenant approval process, put a cap of 20% tenant occupied, and made it as difficult as possible to lease, and surprise surprise, the values plummeted as the investors sold out as quickly as they could. 

Basically housing in my market has plummeted in decent areas.

When I think recessions I automatically start thinking about plummeting real estate values and how that could hurt me with my existing portfolio or if i'm in the right position it can be a great time for more acquisition.