The next time you hear about a "market bottom" or the end to the recession or that it is time to jump back into real estate or anything like that, take a look at the 5 waves of mortgage problems. Notice that we are just now beginning to deal with the second wave.

We will talk more today about this but I suggest that you sear this into your mind before you make any long range financial plans.

But you should only be worried if you believe that bad mortgages and bad credit actually started this debt crisis. Also, you should not be worried if you think more bad credit can fix the existing bad credit!

I will let you decide...