You do lose your guns, but you do not lose your killstreaks, titles, or emblems.
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WhEn YoU pReStIgE iN mOdErN wArFaRe 2 YoU dOn'T gEt AnYtHiNg, YoU aCtUaLlY lOsE aLl Of YoUr WeApOnS. NoW aFtEr YoU rEaD tHiS lOoK aT mY pRoFiLe.
From What I know After you hit level 70 (max level), you can choose to keep that rank or re level to level 70 as a prestige. You lose all weapons and their attachments for them. All u get is a title that says THE PRESTIGE. That's it
You lose all the weapons you've achieved and you have to earn them back. You unlock new challenges, embles, titles, and more Custom classes. The highest rank Prestige you can get to is 10. After entering prestige mode, you are reset to level 1 in 1st prestige with a different emblem than the default one.
Get promoted! Get the game guide, (or look online) and it'll tell you what rank you get certain guns at. Desert Eagle at rank 43, Barrett .50 (or w/e you use to blow off Zachaevs' arm) at 49, Gold Desert Eagle when you first go prestige, etc. Oh BTW think before you go prestige, you lose EVERYTHING when you do 0.0