There has been a lot of press lately about the amount of recent foreclosure filings across the country, with extra fuel being provided by some famous (and infamous) celebrity homes entering the foreclosure process. But is this sparking flames on a fire that has already been contained? And, is all the hoopla justified?

Michael Jackson, the self-proclaimed “King of Pop” almost lost his infamous Neverland Ranch in California to foreclosure. (An investment company stepped in at the 11th hour and took over the loan) Jose Canseco, Ed McMahon, Rep. Laura Richardson of California and Evander Holyfield have properties that are in the foreclosure process. Some are financially strapped and can no longer afford their homes, while others are throwing in the towel and simply walking away.

Some homeowners are walking away from their properties because they owe more than the property is currently worth. Most celebrities can probably afford to lose one property. More than likely, the property up for foreclosure is not their primary residence. Because of WHO they are, they are able to financially recover from a foreclosure loss a lot faster than the average homeowner losing their house to foreclosure.

99% of people go through varying degrees of financial strain in their lives (some more than others). Logically, these bumps in the road of life will hit the rich and famous on occasion. The media jumps on these stories because it sells papers, magazines and boosts TV ratings. The media intimates that if it happening to the rich and famous, we must really be in crisis.

The reality is that only about 2% of ALL mortgage loans are somewhere in the foreclosure process. A majority of homeowners who enter the foreclosure process work out a deal with the lender to save their home from being foreclosed. Some areas of the country are actually seeing an increase in property values and a decline in foreclosure filings. However, these statistics are conveniently left out of media reports - surprise, surprise.

Real estate has always been a reliable investment and will continue to be for a long time to come. In fact, smart and successful investors are buying up the bargains now because they know appreciation is a short time away. It is great time for “buy and hold” investors.

Lease Option real estate investing is becoming a more common strategy for smart investors in this market. A Lease Option investment strategy means signing a lease contract on the property “with an option” to buy with a potential buyer.

There are many details involved in this strategy. It is always a good idea to consult with a real estate attorney before signing any agreements.

A mentor or expert in this strategy can also be helpful in gaining insight into the Lease Option investing strategy. For additional information, see the GuReview.com experts, Andy Heller and James Gage who specialize in this niche.