I just opened Limewire and it said "Urgent Limewire Security Update" and they want me to update to a newer version because they identified a bug where people could claim to be Limewire. I have 700 songs, and I really don't want to lose them. I already have Limewire 4.16 and It wants me to install Limewire Basic. What will happen??

If your downloads are not within your PROGRAM folder, then nothing to fear.

Get this version http://www9.limewire.com/download/LimeWireWin-full.exe

Sorry, but what PROGRAM folder??

The LimeWire Program folder.
Normally your downloads will go to your account folder, not the programs folders.
However, some people have been known to choose the programs folder.
Double check by going to Tools -> Options -> Saving and it will show the directory location of your downloads.

thanks a lot
are you SURESURESURE it won't delete?

The ONLY really safe thing to do now, considering the many problems with Limewire, is to Copy ALL of the files you wish to save to a separate folder... probably in My Documents...
Just make a NEW Folder in a suitable place and copy your Downloads to that new folder. And, if you can put them on an external hard disk drive that's even better.

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I have the same problem, I tried to upgrade to the new free version 4.16.7 and almost at the end I got a message "This installation is corrupted, please download & Install LimeWire again, I did, I kept getting the same message. Now I don't have my old version or the newer version and I don't know what to do to get either version back. Do you have any ideas or solutions?

I would do a search for anything 'limewire' and delete the files, then try a fresh installation. Also make sure your java is up to date and delete any older versions of Java, they can conflict. The latest version is 6 update 5. Delete all others from your control panel> Add/Remove programs. Also to be sure, you should disable your antivirus program while installing. That could also be causing the problem. Good Luck!

Use this version: http://www9.limewire.com/download/LimeWireWin-full.exe
Also, never uninstall LW using the add/remove control panel, it will cause problems.