In 1987, my wife and I purchased our first house in Southern California. We couldn't afford a house that cost that much, but we stretched and bought it anyway. The lender offered us a high interest rate that adjusted once every ten years. That made me nervous.

But I needn't have to worried.

Houses in our neighborhood doubled by 1990.

The lenders went from being frugal and careful to sending out appraisers to do drive-bys simply to validate what they wanted the appraisal to come in at.

But, but 1991 or so, the party was completely over. So over. And in 1995, we sold that house for less than we had paid in 1987.

That house was in Sherman Oaks, which is a pretty nice area. It wasn't in the hinterlands. Lots of celebs live there. But what happened?

The banks in California and Texas just couldn't lend money fast enough. And people couldn't keep themselves from borrowing to buy still bigger homes. And when the party ended, Wells Fargo and Bank of America took big writedowns and spent years straightening out the mess. They had been the biggest lenders. And of course, a number of subprime lenders, then as now, went down the tubes.

Then, the housing bubble burst mostly in California in Texas. Now, the bubble is bursting almost everywhere in the US, as well as in the UK and Spain. And other areas don't look far behind.

I've been through this before. And I bought and sold real estate and developed a small apartment building. I have been a real estate investor and teacher.

That's why I recently created the Mortgage Relief Formula(tm). To help you get out of debt, and own a nice house. Even if you are in foreclosure. Even if you face crushing debts. Even if you think the last thing on earth you will ever do is get out from under.