Reply to I need about $20k to get us through a layoff-home equity loan?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]No expenses you can cut? Family to borrow from?

It sounds like you are going to have to see if you can get a loan from your bank or credit union, HELOC, or rack up some credit card debt.[/quote]

Op here. We already cut way back, sold a car, etc. No family to borrow from.

My question is the best way to cover these costs, a personal loan? HELOC? Credit card debt is an option (can get a 0% card), but we can’t pay our mortgage or childcare with a credit card.
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You only pay mortgage. You skip out on childcare without notice and lose your spot. You do NOT take out a high interest loan to save face/avoid losing childcare. If you haven’t paid for October, DON’T. [/quote]

Op here. My kids have special needs and losing their spots is simply not an option. I’m not able to interview or apply for jobs while caring for them, and there’s zero chance we’d secure childcare for them in January when I start working again  if we don’t keep their spots now.

Look, I’m not really looking for a comprehensive review of my entire life and finances and choices. The situation is what it is. My question is rather specific-what financial vehicles make the most sense for getting us $20-30k to survive between now and January?

My DH mAkes $120k, we have a ton of home equity and good credit. No debt besides mortgage. I’m sure there has to be a way to do this.[/quote]

Sell your house as soon as possible and find a rental you can afford. Will be cheaper than your current situation, which is house poor. That will free up the equity and relieve alot of pressure from your budget.

Painful but honestly the best solution right now. You can always find another house to live in later when you can better afford it. And be sure to get one that you can afford on just one salary (of whoever makes the least).[/quote]

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