Stress out not getting any kids torn about sticking this out or go back to work!

[sweetness852010]

I had a full crew til the last week of August. I lost two kids within two weeks. I have been posting online but nothing:(. Ive been really stressing because the dck i have right now are siblings 6yr old and 3yr old. And cannot pay bills with just thier income.
Im really upset about this the ones I lost were great parents but due to moving and the other going to a preschool. I feel like if i dont find kids soon i will have to go back in the work force. Ive been looking for a job outside the home and cant seem to find nothing either. I thought i was in the home daycare thing til i retire but now im not sure. Watching the news this morning they had a morgage broker on and they are saying that people who run thier own business will deny you for a morage or loans from the bank these days. I just find it discouraging.

[Fun&care]

I don't know about your area, but I'm in ottawa and for whatever reason it always seems to take 2 months to fill a spot...so yes two weeks notice is a joke, but money for us is ok so we can usually tough it out. I wouldn't recommend anyone go into this business if they needed a full house to make ends meet...cuz most of the time you don't have a full house, or you can go a few months before filling that last spot etc. Its very unpredictable.

[mimi]

The bank thing depends on a lot of variables. If you have been self employed for a number of years and can show your tax assessments to prove you have had a consistant income that will help. Also if you have equity in your home and the status of any other debt you may have such as credit cards and student loans for example.
It is best to sit down with someone at the bank and see what they can do for you.

It is scary needing to fill spots so you can make ends meet. I went through this a while ago and my hubby and I down sized things like our cable bill, made sure we were economical with our hydro usage (left dishwasher, vacuuming, laundry on the "low hydro cost" hours) and reduced gift giving costs, eating out etc. You would be surprised at how much you can cut back on expenses.
I hope you fill your spots soon - Good luck

[Momof4]

My bank told me that all I need to provide are 3 year's of tax returns for a loan or line of credit also. Don't get too disappointed. Sometimes it takes a couple of months and lots of interviews to fill a space. Good luck.

[playfelt]

Be very careful about considering a mortgage or loan that would require two incomes in the first place in the sense that you can see how unstable our income is. The stress of needing one more child to pay the mortgage bill would be more than most can handle. Better to live within one income for essentials and the daycare income as a supplement as much as possible. I know not everyone can do that but be wary of considering what you make now as your family income and going into debt with it because in a heartbeat part of that money will be gone and you will have no way to pay the loans back.

When we got our mortgage they took my husband's income and half my income (the taxable part) for the previous year into consideration - using the idea I could be only half full at any given time.

It is getting harder to get a loan on self-employed income. My daughter applied for a line of credit just to have a safety net should an expense such as car repairs come up and it was quite the messed up process to get approved. Yes 2-3 years of tax receipts, payment history, length of time with the bank etc were all considered.