A real estate bust? Apparently not for Donald Trump. The real estate mogul just sold his Palm Beach property to a billionaire fertilizer tycoon for a cool $100 million.

By Steve Mitchell, AP

The Palm Beach home, called Maison de L'Amitie, features 24-karat gold fixtures, a mammoth fountain that greets guests and 475 feet of oceanfront in the back.

While the fate of troubled mortgage financiers Fannie Mae and Freddie Mac is up in the air, homebuyers should consider playing it safe and locking in a mortgage rate, according to industry analysts.
Also See: Government Commits Aid to Fannie and Freddie

Mortgage expert David Reed tells you what you need to know about the crisis at the lenders Fannie Mae and Freddie Mac, your first step in understanding today's banking mess. Also see: How safe is your money? | What happens when a bank fails? | Lessons from IndyMac

TOP: Manuel Balce Ceneta, AP | BOTTOM: Pablo Martinez Monsivais

The youngest victims of the mortgage crisis are the kids who are forced to move, change schools, cut back on spending and give away family pets as their parents face foreclosures and other financial setbacks.

Caught in the Middle

Marcio Jose Sanchez, AP

In addition to children of renters evicted from foreclosed properties and those of prime mortgage holders who defaulted, an estimated 2 million children will be directly affected by the subprime mortgage crisis as their families lose their homes to foreclosures, according to a report by family advocacy group First Focus.

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The latest famous person to get caught up in the mortgage mess? NBA star Vin Baker.

Big Names Hit by Foreclosures

Charles Krupa, AP

Vin Baker
Former NBA player Vin Baker is the latest high-profile celebrity to get stung by the wave of foreclosures sweeping the U.S. Baker's 9,300-square-foot Georgian brick colonial Durham home, which has six bedrooms, a two-lane bowling alley, basketball court, guest house and pool was auctioned for $2.5 million.

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A lender's pre-approval is a limited-time commitment to fund your mortgage loan. To obtain a pre-approval, a lender evaluates your credit history, and calculates your housing and debt ratios. Find out more about getting pre-approval and learn which common mistakes to avoid.

The closely watched Standard & Poor's/Case-Shiller home price index shows that U.S. housing prices declined 15.3 percent from a year ago in April.
Also See: Mortgage Rate Rise Spurs Some to Buy Now