Cave Dwellers Slammed By Credit Crunch

Early Show - Cave home - Feb. 26, 2009
Want to buy a cave?

More specifically -- a home built into a cave?

The Sleeper family in Festus, Mo. lives in a three bedroom, two bathroom home they built in a 17,000 square foot cave after buying the property for $160,000 five years ago.

They went as far as to sell their DVD collection to come up with a 50 percent down payment, but now, the balloon payment on the mortgage they took for the other half of the purchase price is coming due, and they've been unable to refinance to cover it.

So, they've turned to the same place they found their cave -- eBay -- to try to sell it, though they'd still prefer to refinance. Asking price: $300,000.

Early Show co-anchor Maggie Rodriguez spoke with Curt Sleeper Thursday, as well as his 12-year-old son.

Sleeper said that, among other things, banks not only want a credit score of 800, but 100 comparable dwellings to compare prices to -- hardly a possibility!: