I seriously doubt with every bone in my body we need to be stocking up on guns, ammo, food, safes...etc.It's almost laughableI'll bet they thought it was laughable just before every other catastrophe in history.

In the next couple of years when all the adjustable rate mortgages start to come on line we are going to be facing this hole problem all over again.

Your best bet, if you can find a lender, is to do a straightforward refi and pay your friend off as part of that transaction.

I bet that second would take $1500, and the first would take a whole lot less than $700k.

Everything you need is right online.

So if it takes about 3-4 months to foreclose on someone, I would expect to see the market to be flush with foreclosures starting 2nd quarter 09 and the housing market bottoming out starting in 3rd quarter 09 since their should be less foreclosures coming on line to depress the market with.Therefore, my objective between now and then is to accumulate properties now for cash flow and position myself to be able to accumulate more property in late 09.

Your best bet may be small neighborhood banks.

I have found the most success finding both buyers and sellers by doing online classifieds with driver ads to my website where I can capture the information of interested parties.

I bet Vegas is full of real estate opportunity.

Quicken Loans is the nation's largest online mortgage lender.