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Load balancing is an important problem for the efficient operation of peer-to-peer(P2P) networks. A key issue for dynamic load balancing in self-organizing networks is to identify overloaded nodes and reassign their loads to others. Recently, most of researchers have concentrated on developing strategies to the design of balanced structured P2P networks. However, none of these strategies is suitable for unstructured P2P networks. This paper proposes a novel routing based algorithm for load balancing in heterogeneous, dynamic unstructured P2P networks. Our algorithm does not need the global information and hence is resilient to dynamic node arrivals, departures, and failures. Experimental results indicate that our algorithm outperforms existing load balancing algorithms in terms of load transfer.