I had a conversation with my brother who lives in California. He’s looking to sell his home, but is concerned about the huge loss he’ll take when he sells it. He’s discouraged because he paid a fairly high amount, but because of the recent slump, he’s also scheduled to lose nearly $80,000, if he sells right now.

BusinessWeek published an excellent article on this recent mortgage crunch. Fortunately for us in Oklahoma, we’re not on the list. It’s time for everyone to make an examination of their situation and do whatever is necessary to get out of water.