And the economy claims another victim... [View all]

[MANative]

I'm at my wits' end. Just learned that we will not qualify for a mortgage modification under HAMP or standard terms because our income is now too low. When we bought our house ten years ago, I was making over $100K per year on top of my husband's $45K and we could easily afford our mortgage and anything else we needed. Set aside a nice chunk of money, too, for retirement and rainy days. Since I am self-employed, and have been for nearly the entire time, my income has always had peaks and valleys, but the last three years have been brutal. I work in consulting, primarily in the staffing and HR industries, which are the first to get hit and the last to recover. My income has dropped to less than $15K a year - about 10% of what I used to make. Our savings are gone; the retirement/rainy day-fund is exhausted and then some. We have ten days to find a mortgage payment, or we will go into foreclosure.

We're screwed. Forgive my complaining, but if I didn't get this out somehow, I was going to implode.