You may think that only American families are losing their homes to foreclosure, but it's happening here in Alberta too.

Falling property values are forcing a Carseland family out on the street.

When the Folviks took out a $288,000 mortgage in 2007 their home was worth $300,000.

Now the three year term is up and they have to pay off the balance which is still $288,000. The problem is because of the intervening economic downturn their home now worth only $240,000, and the banks won't lend a penny more on a new mortgage.

That leaves the Folviks $48,000 short and that means even though they've never missed a payment, the Folviks are losing their home.

Heather Folvik says we're "not deadbeats, we did everything right, and we stand to lose it all".