LIVING LIFE ON THE EDGE IN TODAY'S ECONOMY,
ON "20/20," FRIDAY, MARCH 20 ON ABC
In today's economy, many people are caught in a balancing act, trying to keep their job, their house, their marriage and their dignity. Evictions, foreclosures and unemployment are pushing families to live life on the edge. "20/20" takes a look at the effects of the economy, with reports on: promises made by foreclosure rescue services; creative ways to make ends meet, including a former hedge fund manager who is now delivering pizza; kids who are homeless because their parents have lost jobs; as well as buying a hundred dollar house. "20/20" airs on FRIDAY, MARCH 20 (10:00-11:00 p.m., ET), on the ABC Television Network. Reports include:
Foreclosure Rescue Services: With almost two million homes facing foreclosure across the country, a new business is booming � foreclosure rescue and loan modification services. Desperate homeowners are solicited with pitches that loans can be modified and homes can be saved. But in an increasing number of cases, these services seem to take the money and too often do little or nothing to help save the home. Jim Avila confronts one company which is now the target of numerous complaints and several lawsuits.
Jobless in the Worst Job Market: What happens when your lucrative paycheck stops and your well-to-do life as you know it ends? Elizabeth Vargas reports on a man pushed to the edge to make ends meet: a former hedge fund manager who is now delivering pizza.
Homeless Kids: According to statistics, a record number of American children � more than a million � will experience homelessness this year, and the number is growing. The problem is so bad in Los Angeles that the biggest shelter in the city has put up tents in its chapel to accommodate a wave of newly homeless families. Children young and old are suffering. "20/20" meets a class of promising young college bound teens at Village Academy High School in Pomona, California, who talk frankly about the impact the failing economy has had on their lives. Encouraged by their AP English teacher, they made a testimonial video entitled "Is Anybody Listening" which they posted a few weeks ago on YouTube. "20/20" cameras are in the English class discussing the video with them when something astonishing happens: the teacher gets an email from the White House. David Muir reports.
Ups and Downs: Housing is down, the stock market is down, the job market is down. Is there anything that is up or even growing? Chris Connelly reports on some businesses that are doing well in today's economy.
Hundred Dollar House: In Detroit alone, more than 40 thousand homes have been vacated by foreclosures. Bob Brown reports on new signs of hope, with people taking advantage of low prices for foreclosed on homes.
"20/20" is anchored by Elizabeth Vargas and John Stossel. David Sloan is executive producer.