Fasting, just as with anything else, can be good or bad, depending on how it is done.
I belong to an Intermittent fasting group. Some fast/eat alternate days. Some (including me) fast for 20 hours of the day and eat during the remaining 4.
My program includes 1350-1550 calories --what I calculate my goal weight maintenance calories will be. I am currently 183 and my goal weight is 109.
My daily food intake is comprised of whole grains, fresh fruits, vegetables, low-fat dairy, and very little meat.
I find it extremely easy to follow. If I spread my 1350-1550 calories out among 5-6 meals/snacks, I am always hungry, always pre-occupied with food, always looking for what I can eat to not go over my limit. I have a voracious appetite. I did alternate day fasting for awhile, but I had hunger for about 4 hours on the fast day, and I was always cold on the fast day. Then on the eat day, I consumed twice the normal calorie range as planned, but I was always pre-occupied with food, and eating throughout the day. I decided to try to the 20/4 method, and it has worked very well for me.
Whereas I was always hungry spreading my calorie budget out through the day, I reach satiation by consuming it in one 4 hour period. I don't have hunger during the 20 hours until about an hour before it's time to eat again, and then it's mild hunger. My stress eating has stopped, as have my cravings. My food tastes have changed dramatically.
I don't eat all my calories in one sitting, but in 5-6 courses. I take anywhere from 2-4 hours to consume all of my food, so the courses are pretty close together.
1st course is whole grains, and I use steel-cut oats or a multi-grain with brown sugar and 2% milk. Sometimes I add raisins or bananas to the cereal.
2nd course is fresh fruit, usually citrus, oranges or tangerines or both.
3rd course is a commercially prepared soup, usually Healthy Choice, and California Black Bread (it's actually pure 100% whole wheat bread) with 1 tbsp peanut butter.
4th course is more fruit, usually a large organic Fuji apple.
5th course consists of more vegetables plus a sandwich of 1 slice Cal Black Bread and an omega 3 organic egg fried in 0 calorie Spam. If I am going to have meat, it's usually turkey meatloaf or thin-sliced roast turkey instead of the egg.
6th course is dessert and usually consists of low-fat yogurt (I prefer the Cascade brand, as it is sweetened with fruit juice and has 7 active cultures), grapes, and perhaps a cheese stick.
This is not a short-term diet for me -- but a chosen lifestyle. Since I am using my goal weight maintenance calories as my current daily intake, I expect to lose the weight slowly and do not anticipate having to make any changes in my diet once I do reach goal weight. Also, I anticipate that my body may reach a couple a set-point higher than my goal, but that is okay.
During the 20 hour fast period, I consume only water. I have excellent energy throughout the day, and I do have a exercise program that includes cardio and weights.
If you want to do some research on the subject, just google intermittent fasting. It's based on the calorie restriction research that shows that restricting calories activates the longevity genes and produces other health benefits that reduce diseases typically associated with aging. The studies included mice that were fed regularly, mice that were fed reduced calorie diets, and mice that were fed intermittently but allowed to eat whatever they wanted. The results were very good for the intermittent fed mice. Several in our group just eat what they want for their feeding periods, but they are men. If I ad lib eat, I will maintain, but I will not lose. So, I restrict my calories to my goal-weight maintenance calories. It's a matter of training myself and allowing myself more time for my food preferences to permanently change.
As far as gaining the weight back, well, no matter what program I follow, if I go back to my old ways of eating, I will gain the weight back. So will anyone.