Hey there. Since you’re a business owner, I’m going to also assume that you also a homeowner. If this is indeed the case, b>while your business is still showing some income /b>, there are things that you can and need to do quickly to save your home:
1A) Run, don’t walk, to these sites and get yourself approved for the Hope For Homeowners program. It’s a great program - IF you can provide proof of income:
http://hopeforhomeownersact.us/
http://www.hud.gov/hopeforhomeowners/
http://portal.hud.gov/portal/page?_pa…
1B) MS is a disability. Have your wife apply for disability benefits ASAP. Applying and getting approved for disability is a lengthy process; the sooner she starts the process, the better. This site will provide you with just about everything she will need to know:
http://www.ssa.gov/pubs/10029.html
2) Once you’ve re-financed your home to a lower monthly mortgage, seriously consider bankruptcy. It’s not the end of the world to resort to this - especially in today’s economy. Bankruptcy will serve as an additional measure to save your home, and there are ways to recover from bankruptcy later. This site provides a good overview of the bankruptcy process:
http://www.uscourts.gov/bankruptcycou…
3) “Downsize” your life style as much as you possibly can. Sell off anything that you can live without; you can always buy it again later when times are better.
4) Work with all of your utility companies: As parents, you’re placed at the top of the list to qualify for any reduced rate programs they offer.
All of the above are good starting points. If at any time finances get tougher while you are working on the above, contact:
http://www.211.org/
http://www.redcross.org/
http://www.salvationarmyusa.org/usn/w…
and … your County & City Social Services Agencies / Departments.
Loans really aren’t the best way to go these days - especially if, as you say, your business is already in the floundering process. As someone who has lost her home to foreclosure due to job loss and disabilities, I can’t stress strongly enough to you how important it is for you to concentrate on protecting your home from the same fate as quickly as you possibly can.
Wishing you the best of luck -Aries.
Aries