Resolved Question: I'm in too deep, what do I do?

Growing up, my parents made over 80K (in the 80's & 90's) combined and had a nice house, but lived well beyond their means. They never helped me or my siblings out financially in college or anything else after we were 18, never even helped me get my driver's license - had to get that on my own when I was 19.
Now they are close to retirement, have nothing saved and have more bills than they can handle. My brother confessed to me that he has been lending them money to help pay their mortgage (actually a 100K home equity credit line that they ran up). He is just out of the marines and is putting himself through school.

I am expecting them to come to me sooner or later as I make more than my sibling. I had to work hard to get where I am, and divorced with 2 kids of my own about 6 years away from college and am not weathly by any mean (I just have self taught myself to manage the money I make well). I plan on doing for my kids what my parents never did for me.

Resolved Question: What is the best way to get the principal balance of a Home Equity Line of Credit and/or Mortgage down fast!?

We have a large mortgage and a HELOC.

Is there a proven method to reduce this fast? Can you make two or three payments a month?

Resolved Question: I'm in too deep, what do I do?

4 years ago my wife and myself purchased a home in Ma. Needless to say, We paid alot. At the time, the market was hot and we had relocated from a market which had a significantly lower home prices. In order to continue living in the lifestyle we had grown accustomed to, we did some "creative financing". We took out a no interest loan for the first 2 years and were lucky enough to refinance before the market cooled down. We also took out a Home equity line of credit. We were able to secure good interest rates on both but the monthly output is substantially more. Combine this with a few life changing events, we find ourselves on the verge of forclosure or bankruptcy. Are there any better options available? If not, which of the 2 options will be easier to recover from? By the way, selling the house is out. It will not appraise for what we owe.

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