. >> among them, chris deaner and his wife, dana, of sun city, arizona. west foothill drive has become a street of shattered dreams. >> amazingly, we have-- 16 out of the 44 houses on this street have foreclosed over the last year. >> and yours over here? >> mine will be number 17. >> [squeals] >> when deaner, an auditor for a local university, bought his three bedroom house in 2006 for $262,000, he thought he got a bargain. >> first-time homebuyers, we don't know, you know, houses are overvalued. we just know we need to get in before it keeps going up and up and up. >> and then... >> and then...boom. >> the balloon burst. so how much does he think he could get for that $262,000 house today? >> right now, about $142,000. >> that's a big drop. >> big drop, over 43%. >> deaner and his house were, as they say, underwater. with a mortgage of about $1/4 million on a home worth less than $150,000, he has one very expensive lemon. he says he tried to talk his bank into renegotiating his mortgage, but because he earns enough to keep paying, the bank said no deal.