Divorced and unemployed. What are my options?

[ls0777]

Hi everyone. Thank you in advance for any advice!

Here's my situation. I am divorced and currently unemployed. I get temp jobs sometimes but nothing permanent as of yet. I'm slowly using up whatever I have in checking and savings to make the mortgage payments.

Although I owe less than the home value, I would like to stay in this home with my kids as it's close to schools and the metro. Also, my ex husband is the main borrower and me the co-borrower. He has relinquished all rights to the home in our divorce agreement.

I am thinking I am not qualified for the home modification loan but would like to make sure with you all. Also, to find out what my other options are besides selling the home and moving.

Below is the information of our expenses:



Mortgage with Escrowed Property Tax + Home Insurance (Chase): $1,126
Further Details:
- Principal Balance: $109,280
- Escrow Balance: $2,667
- Interest Rate: 6.875%
- Principal & Interest: $876
- Escrow Payment: $250

Current Home Value: $362K (Zillow estimate)

Utilities
- Water: $31
- Gas: $125
- Electric: $56

Cell Phone: $48

Misc. Expenses (incl. food, gas, etc....): $266

Car insurance (Full coverage for '08 HOnda Accord with $500 deductible. Erie.): $67

-------
Total: $1719

Unemployment: $334/wk. or $1,336/mo. for 5 more months. before Tax.

[ls0777]

Sorry. Double post. I thought my first post didn't go through!