My family is going through very bad financial trouble right now. My parents don't really have enough money in the bank to pay the bills or pay off the mortgage for the next month. They have tried to apply for loans, but are constantly being turned down. My dad was out of work for 15 months because he was laid off from his job. The loan people won't give us the loan because he was out of work for so long, and has only been at his job for a month. From what my mom told me, he has to be in the job for 6 months before he could get the loan. My parents have had people come in to appraise the house, but that did not meet whatever requirements had to be met, so we couldn't get the house re-financed (not sure if that is the right word there?...whatever it's called after you get the house appraised.).
Anyway, that is kind of the background information. My question is does anyone have any advice for what my family could do? I am starting to lose faith that something will work out. I will be a junior in college, and even though my brother and I will both have (or at least I do now) remitted tuition because my dad worked at the college before he was let go, there are still a lot of expenses for books and such to cover.
Does anyone know what we can do? Thanks so much!
Anyway, that is kind of the background information. My question is does anyone have any advice for what my family could do? I am starting to lose faith that something will work out. I will be a junior in college, and even though my brother and I will both have (or at least I do now) remitted tuition because my dad worked at the college before he was let go, there are still a lot of expenses for books and such to cover.
Does anyone know what we can do? Thanks so much!
Sometimes it sucks, sometimes it doesn't. At least you seem to be very aware, and concerned, with your families situation. That's more than can be said about a lot of people today. You're a junior in college which means you are definitely old enough to be working. Get a job and pay for your own books, food, etc and anything else you can help out with the family budget (pay a part of utlities, etc). Cut expenses whereever you can (do you **really** need a cell phone? itunes, netflix, etc, etc?) You may have drop some classes so you can work more hours. But remember your parents supported you for 20+ years, you should consider helping them out for a a year or two until things improve for them. Bottom line is, for them to keep their home and family together, either more money has to come in, or less money has to go out. If you can help bring money in, and reduce money going out then all the better!