News of the crash and continuing deterioration of both the housing and mortgage markets continue to dominate the news. But there is a hugely expanding market for both real estate and mortgages that is virtually ignored by the mainstream media. You need to know about this underground housing economy particularly if you are selling your property or if you're having difficulty getting a loan to buy a home.

So, what is this “underground housing market”? Basically, it's the millions of real estate transactions conducted outside traditional real estate sales and financing channels. Below are the major components of this 'under the radar' economy.