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My husband and I bought a fixer upper (all we could afford...even gave up my diamond, in order to purchase it ) It became our dream home. Throughout the years we began building equity and did use it mainly to pay off debt and loosen up some monies to do some minor improvements. We were doing fine until the last two times we took out an equity loan. The institution that gave us the loan appraised our home very high and we believed in their expertise at the time...they even told us we could even take more than we asked for...but luckily we didn,t. Not long after, my husbands salary was cut 15% and now he,s been killing himself trying to get all the overtime he can ! We have three children with special needs, so basically for the time we,ve been here I was a stay at home I,m out looking for work to no avail and my children are worried, I won,t be available if they need me.We have a mortgage of 370,000. and our home we recently found out is worth only 300,000. not 500,000.! We are desparately trying to stay afloat and so far have good credit, but its tearing our family apart We probably have only one month left before we run out of monies. We don,t have any brand new cars or anything expensive ...its not like we were frivolous, we weren,t What is hurting me all I could give my kids was the time i spent with them, not guitar lessons or dance lessons...and we,ve allways talked about all of them going to college. In less than 2 years my oldest son wants to go to college in New York and we saw a home near the college thats at an awesome price , but if we destroy our credit and wind up bancrupt or foreclosed...everything will be lost, and I just can,t bear to tell him, he can,t go to this school. He has Aspbergers and was diagnosed with PDD when he was 5 yrs. old, so the school chosen must be specific and living in state will make it less expensive. What is everyone doing in this type of upside down mortgage crisis? Is there any way to get through this?

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