reports that 11 million homeowners are said to be "underwater," or owing more than their house is worth. It's believed that even more neighborhoods would fall into ruin if it weren't for the people who refuse to walk away from their homes, even it might be best for them financially.

Pelley speaks with Linda Bizzelle of Cleveland, who has refused to give up on her home:

Her house is worth 50,000, she owes a hundred. A financial planner might tell her to put something away for retirement rather than pay a mortgage that will never recover. Especially, since she lost her job in nursing last April.

Pelley: What have you been cutting back on?

Bizzelle: Sometimes food. I would go to the food bank in order to make up the difference, so that I wouldn't be completely hungry. Sometimes I wouldn't get my medications renewed and I would have difficulty with that because I really need my medications. I take medication for high blood pressure. And my doctor could always tell when I didn't take 'em and I said, "Oh no, you can't do that. No No."

Pelley: You're living on unemployment right now?

Bizzelle: Yes.

Pelley: What about the next mortgage payment?

Bizzelle: I'm gonna pray. That's the best I can do. I'm gonna pray that I find a job.

More homeowners like Linda Bizelle in the program, and you can view the entire transcript online here.

Part 2 of the video below the fold.