I'm realizing just how necessary the big picture is in order to really answer whether it could make sense to take out this loan. I do fully understand it's a big, resounding NO as of now. I should have mentioned, I've been lurking this blog and these forums for years and I have picked up quite a lot in that time. We have a pretty simple budget other than our debt, no extras like cable, vacations, dining out, etc., but there's still fat we'll trim (Hulu, a $10 monthly charitable donation, my daily soda at work, et al). Can save money on groceries just by eating up the stockpile of food in our house.
To answer a few questions and provide additional details:
-I am salaried, so no overtime or extra hours are available at my job
-I'm willing to get a 2nd job and think I'll need to, but it's at the expense of spending time with my little one (under 6 months old) in the evenings/weekends. Tbh I'm really bummed at the idea of missing out on this time, but I know doing so is better than losing our house/car/everything to foreclosure.
-DH is not able to work more than 5 hours per week - chronic pain (due to multiple diagnosed conditions). He has a job that he works ~5 hours per week at. He's filed for disability and he has a legitimate case, but it's likely to be 3-9 months before we find out anything or see any income from that. Theoretically, if he is approved for it, we will be back to "even" or better on a month-to-month basis. DH stays home with our LO so we don't have daycare expenses. It's almost too much for him physically, but we don't have a choice at the moment.
-Very willing to sell stuff to make money, but I don't have much to sell - or more specifically, much that people seem to want to buy. A broken lawnmower, some dishes and such. I have some things on marketplace but have had no interested parties contact me. What can/should I do differently when selling things?
**It seems short-sighted to try to get a 2nd job when I don't have reliable transportation to get there. Right? So how do I come up with the money to fix my car so I can get to my job(s)? Restaurant work and a paper route are two of the most likely jobs I could get, but they both require transportation/reliability. Does anyone have ideas for 2nd jobs that DON'T necessarily require transportation?
I'm all for the first few DR baby steps, but how do you get $1000 for an e-fund when you're in the red by 2.5x that?
Thanks for the replies so far. I'm taking them to heart. I think my responses may sound like excuses but I don't mean them that way. They're just challenges I'm not sure how to overcome. Further suggestions obviously welcome.
*Edited to remove overly identifying info and for clarity of intent re: cutting the fat.