[TomGuy]

paying cash for a smaller house

Generally, rates are low -- 4% range.

I would not cash in savings funds for that. Check your savings funds rates. Your savings account(s) may be earning more than the current home loan rates.

I have an IRA. When I took it out 15 years ago, it had a rider that the minimum rate it would ever pay is 4%. At the time, normal-low rates were in the 8% range. Ironically, it is now my highest interest rate earner.

About 4 years ago, I moved some cash from a money market to 4% CDs. When those CDs matured, they renewed at 2%. At the next renewal they were at 1%.

==

[KC Burke]

If you have a good amount in retirement savings take a loan from it for four months of your problematic mortgage payment to give yourself so breathing room to access and network.

Cut expenses. Apply tomorrow at your companies two best competitors. You may be a fresh asset to them.

Do all the employment efforts you can compile. Take any offer that will keep the lights on. I have seen people turn down an offer as too low that months later they wish they had taken.

If you are upside down due to borrowing on the house that is a separate issue — treat it that way.

Best wishes.