Segment | Housing

Selling Out

This story begins with a yard sale and ends with a profound reflection of a family that’s standing tall, even while selling short.

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Very long time ago, my parents selling this house and they are toss it away. But, nothing is worry about these selling something, because someone selling books and everything in this yard sale. Believe It.

I've lived next door to the Balli's since 2000 our kids have grown up together, it is so sad to see good neighbors go. Especialy when kids are involved!

My husband and I enjoy all the stories that So-Cal Connected play every Thursday evening. This is real life. This is happening here and now. This is happening to our friends, neighbors,family and co-workers. We have learned so much from watching these shows. The family in Lake Elsinore and their house in forclosure, the loan company should be ashamed of themselves and work with them. In this economy now. If they could pay something, its better than the house sitting there, and no one can afford it now. Renters being kicked out and being payed by the bank to move, wow, we had no idea they did this. We truly appreciate the hard work the staff of So-call Connected put forward with these stories. Its great information, and most of all its real. Keep up the great work........

Thanks
Companion Family

what an emotional piece. I think its brilliant to air this because people need to be more aware of the trials families have to go through because banks prefer profit over morality.
very good work!! keep it up!!

WOW, that is all I have to say. After losing our home in San Jacinto in the early 90's, this sure brings back bad memories. Now living in NC and being in real estate, I am able to use my bad experience to help people purchase a home that is affordable for them, not what makes me the most commission. This is a sad story, but people need to be made aware of what is going on.

My heart aches after viewing this story....it's real! Thanks KCET for keeping me informed in such a visual way.

The Balli family are the best friends any one could have. Our familys are very close & have been through a lot. To see this happen to two of the most careing & giving people is very humbleing. It deffinately makes you appreciate what you have. Love you both, Christy

They seem like the original owners in 2001 since their kid's height measurements go back to 2001 on the door. Home prices were around $170K to $180K back then. They now owed $400K so they took over $200,000 out of the home and we're supposed to feel sorry for them? If they had not done that, their original mortgage would only be around $150,000 and their monthly payments would be around what they are now paying for the mobile home. If they did not take all that money out they could easily stay in their home.

Hi I would like to clear something up. Because of the time amount allowed on the show not all was aired. Yes we did take a second out on the house when we did the first time it was for the grocery strike I was involved for almost 4 months so we could live on that money. Then a few years later we put that second into a fixed rate and took some money out for the back yard and to paint the inside of the home. We always thought we where just adding to are investment and we never got over 350,000 and we payed almost 200,000 for the house.I will be the first to tell you that yes we did take money out just like everone else in this country and we always had a good fixed rate. It was just that I took a huge pay cut and was not able to make ends meet. The sad part of this is the second would not help use at all on the short sale.

hi joe,

we were moved by the love shared in your family and by your dignity. we want to send you something. where do we send it?

judy and phillip

Don't be an ass. That is not fun for anyone to go throught. It is easy to speculate when you do know all of details. Don't be so nice Joe. You have 100% of my support. This current situation effects this entire country. Honest people with good intentions got suck in uncomfortable circumstances. Kudos for taking care of your family. Bozo's like this person are quick to judge and the first to bitch when it effects them. So SOD OFF Mr. Commenter. Go become part of the solution not the ever present problem!

These were heartbreaking stories. However, I feel compelled to be a spokesperson for people who didn't overextend themselves and buy a home that was beyond their ability to afford. The general consensus is to keep your mortgage within 28% of your income. The Balli's are a loving family and I feel for them. However, if the family's income before the layoff was 6,000/month and the mortgage 2700/month this equates to 45% of the family income going towards the mortgage. Perhaps the show could focus on how to be more fiscally responsible for future home buyers.

This is real life, and we are not able to see our future through a magical CRYSTAL BALL, BUT for me this is a life lesson. In the future i will be able to purchase a home of choice and, it's these true life stories that So-cal connected air that really open your eyes to the fact that banks don't tell you everything. God bless the Balli family i wish them all the best. I think what Jon said in his comment makes a whole lot of sense, something i will reference too in the future.
To the staff of so-cal connected KEEP UP THE DEDICATION IT IS PAYING OFF !!!!

It is very difficult to live in California without exceeding the traditional limits for mortgages. It's a great place to live if you can make it work, but for most people, buying a home requires a lot of risk. The margins are tight, and if anything goes wrong - loss of job, major illness, decrease in income, etc - there is little room to recover. Best luck to the Ballis and all in trouble through no fault of their own!

The program is excellent showing the reality of this country's crisis. It's not always about overextension, but lots of variables like losing your job, having unforseen medical expenses, etc. that have compounded this tragedy. The immediate reaction should be how can we help? How does one go about buying the short sell?

Things like moving out happens everywhere but if it is someone we knew for a long time, yes it is hard. But these things can be avoided if we are cautious. Let’s be thankful that our government did something to fight massive foreclosure. Foreclosure prevention and possibly loan modification, in order to be able to pay the mortgage and not get put out on the streets, is doubtless on the minds of many Americans. Those who qualify can take heart in the program that Obama has launched in order to combat foreclosures. The program will offer loan modifications to people who got their mortgage before January of 2009, live in their property with documented proof of income, and a signed statement of hardship. Those who qualify could, if foreseeable, get the necessary funding for effective foreclosure prevention.

Congratulations! Your show is excellent. We’ve been watching all of the segments.

Your segment last night on foreclosures was particularly wonderful. As you know, there has been a steady stream of coverage on the topic on the various shows in town. Yours was more than just a sound bite. It had the human story in-depth. We look forward to your other segments.

Thank you,

Leo and Helen Pearlstein

This is to Mr. & Mrs. Balli. I am assuming it was a re-broadcast I saw last night. I too was quite moved by your story. I am an experienced loss mitigator who previously was employed in a short sale department. Your agent seems to be very competent but possibly something else could be done. I do not know who your 2nd is with but I am assuming they were not going to release the lien unless you agreed to a high settlement or agreeing to a promissory note. I would like the opportunity to assist you and your agent if it is not too late.