7 Families Flee 70-Foot Sinkhole in Middle of the Night

Homeowner fought insurance company for two years about how to fix the sinkhole before it opened up.
1:56 | 11/15/13

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Transcript for 7 Families Flee 70-Foot Sinkhole in Middle of the Night
We move, now, to florida. We saw the scene here at the top of the show. A massive sinkhole growing, as homes collapse into it. It's all near tampa. And it is forcing many evacuations. Abc's steve osunsami is there right now with some very, very nervous local residents. Steve? Reporter: Good morning, josh. Authorities here aren't wasting any time. They've already got dump trucks on the way. One of them here. And they're tearing down the fence in front of these two homes, in front of the hole, preparing to push these homes into the hole and cover it with sand. This whole affair has frightened residents in this neighborhood. It's a big one. 75 feet wide, 50 feet deep. Swallowed a swimming pool. Nearly swallowed a boat. Seven families rushed from their homes in florida. It looks like a meteor hit it. Reporter: Michael says his family was asleep and called police when they heard the sound of the sinkhole swallowing their home. How far is it sinking? It's just cracking. The whole house and the floors are cracking. Reporter: They ran for their lives. He left his wedding ring behind. Firefighters went back inside to find it. They broke in the window in the back, before it came down. Grabbed it and got it for me. Reporter: This morning, authorities believe it has stopped growing. They knew the sinkhole was here two years ago. The family had been fighting with their insurance company on how to fix it. And contractors had just started the work this week. We thought maybe someone tried to break in. Reporter: In march, a seffner, florida, homeowner was killed in his bed, buried alive. In august, vacationers outside orlando were scared silly when their villa started falling into the ground. This year alone, florida residents have reported more than 255 sinkholes. Josh? Remarkable stuff. Steve, thank you for that.

This transcript has been automatically generated and may not be 100% accurate.

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