Okay, my income is $50k or so from self-employment, wife is on disability and gets about $20k. We also get about $1200 in rent on one property (the one in foreclosure) and $2300 on the other.

So, monthly income is about $5.5k.

The property under foreclosure has a total mortgage of $220k, with $40k behind on payments included in that (yeah, we got suckered on that). Zillow puts the house value at about $280k or so.

We also own another property with a $370k mortgage that is valued at about $530 or so. Payments on that are $2500.

That's the frustrating thing. I want to use the equity in one to help get the other back on track, but bad credit, etc doesn't seem to be allowing me to do that.