Episode | Originally Aired:

February 5, 2009

Much of this episode takes place in and around the home. Correspondent Judy Muller brings us a story that begins with a yard sale and ends with a profound reflection of a family that’s standing tall, even while selling short. Correspondent Vince Gonzales brings us Keith Woodard's story. He learned the hard way that even a renter can lose a dream home. And correspondent Lisa Ling reports on the dirty work of contractors hired by banks and mortgage companies to empty out foreclosed homes of whatever the former owners leave behind so the property can be readied for re-sale.

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I was very disappointed in this episode. All the other newscasts are showing the emotional fallout that many of us are feeling about the foreclosure mess. I didn't need to see the exact same thing from you. I was really hoping that you would do what you do best: explain to us some options of what to do about it! I've been trolling the Internet the last couple of days and it seems that what little information there is about what to do about the foreclosure problem is fragmented at best. I loved Life & Times and CA Connected because you used to explain in straightforward and simple terms practical suggestions of what we can do about things. Please get back to your strong points. Thank you!

I was moved by the Selling Out story and the Balli family. I would like to send the Balli's a check. Can you please let me know how I might be able to correspond with them?

Thanks,

Dave Gonzales

I can't really feel sorry for this couple. It is very apparent that they bought into the concept that they could have something for nothing. I have made many decisions to remain in a house that is much smaller than theirs. I raised 3 kids (not two) in this very small house over the last 15 years. Based on our decisions to forego a large house with no pool, no fancy cars, no boats, etc., I have been able to put at least one child through college without going into debt. I am a professional with a very secure job and I still didn't stretch our income. In fact, I was able to save to avoid the situation they are in now. Most Americans have apparently forgotten how to save or plan for the future. I'm sure they were fed the lie that the equity in their home would be their savings.

This all started with builders and everyone else wanting to make money with people who are on the margin, financially. By the way, my house payment is $1000 per month, not $2700.

Pick people who didn't obviously get in over their heads.

The story about the Balli family brought tears to my eyes. They may be facing "short selling," but they are rich in all the things that count. What a beautiful family.

This is a terrible situation for that family and many others, but it's another one of those pieces that doesn't show the entire issue. It was said in the piece that the family bought the place in 2001 and are now underwater. You didn't say what they paid for the house, since if they owned it since 2001, it didn't appraise for 400k at that time. You said the house ONCE appraised for 400k, but you didn't say if they received a home equity loan, which I'm sure they did.

While this is another tragic tale, it is full of holes and does not show how so many people abused the system with home equity loans thinking that home prices would only go up. Tell me how many times did they refinanced to get extra cash?

It breaks my heart seeing how all these families are being affected by our economy today; however, it also makes me realize how much we rely on material things. One thing I learned in life is: you don't realize how important something is until it's gone. These families know more than I do how true that is.

SOOOO SAD. The past eight years of the Bush Administration in combination with BRAINLESS "No Doc" " Zero Down" and other bank and real estate practices that promise a QUICK FIX for those that " Gotta have it NOW" Now are out on the street. Oh don't get me wrong these are NOT the majority of the ones that have lost their homes. There are aprox 70 percent that have lived many,many years in their homes and due to the economic reccession/depression , we are ALL just a few pay checks away once a job loss or illness ( with or w/o insurance ) hits. And those that have saved all their lifes like myself lost my job, then became disabled due to caregiving for three years for my late mother,and was swindled out of my brother and his wife, leaving me in the streets. I found a very very small place and do not sleep at night as my "belt tightening is cutting off my spinal cord. I hope to God that our President Obama can in 2009 at least start to pull us up out of this mess and bring back jobs to America for Americans.