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...move. Since the summer of 2005, house prices in Sacramento have plummeted by half. Choe and his family - which now includes a second son - watched from the sidelines until the end of last year. That's when the Choes moved back into a home of their own, a four-bedroom they plucked out of foreclosure at a 35% discount from what it had sold for two years earlier. (See pictures of Americans in their homes...

Author: /time Magazine | Title: Own-ward Bound? | 8/31/2009 | See Source »

...Their goal is to help homeowners like Ruby Milligan, a single, 61-year-old retired middle school teacher who suffered a mild stroke a few years ago. During the housing boom, when her three-bedroom Miami Gardens house was appraised at what she now acknowledges was an unrealistic $294,000, Milligan says she took out adjustable-rate home-equity loans to help with medical bills. They raised her mortgage principal to far more than the house is now worth in the housing bust. Her mortgage interest has since adjusted up sharply, and she's saddled with monthly payments that...

Author: /time Magazine | Title: How One City May Punish Banks for Foreclosures | 8/25/2009 | See Source »

...once in the back of each leg, twice in the face and twice in the back of the head, the kind of deliberate execution-style pattern often meant to send a message. One of the Billings' adopted special needs children, an autistic boy who was in the couple's bedroom where they were killed, told investigators via sign language that "bad men" burst in and told Billings, who briefly struggled with them, "You're gonna die." Melanie, 44, was shot twice in the chest and three times in the face...

Author: /time Magazine | Title: The Pensacola Adoptive Couple's Murder: A Hit? | 8/22/2009 | See Source »

...late June, Teri, now 31, tearfully packed the last few things - dishes, plants - in her three-bedroom house in Star, a Boise exurb of a few thousand people. When the Lupos' 7-year-old daughter was asked by a neighborhood friend why her family didn't have enough money to pay for its house, she couldn't say. The answer: her father's income from selling cars kept dropping just as her mother's medical-transcription company started losing business to electronic record-keeping. Among the expenses cut from the family budget was health insurance...

Author: /time Magazine | Title: How the Housing Market Is Fighting Its Way Back | 8/10/2009 | See Source »

...early 2006, a young man named DeJarion Echols stood in a federal courtroom in Waco, Texas, and pleaded for leniency. After police found about 40 grams of crack cocaine, cash and an assault rifle in his bedroom, the promising athlete and father pleaded guilty to crack distribution and gun charges. "I made a bad choice" by dealing crack to pay for college, Echols, then 23, told U.S. District Judge Walter S. Smith Jr. According to a court transcript, the judge declared in apparent frustration, "This is one of those situations where I'd like to see a congressman sitting before...

Author: /time Magazine | Title: Will Crack-Cocaine Sentencing Reform Help Current Cons? | 8/7/2009 | See Source »

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