Self-employed, low income but just sold house

amadorgirl
Fri, 29 Jan 2016 17:51:42 +0000

My husband is self-employed and our income plummeted last year to under $40k, I lost my job, and we had to sell our house, which gave us a large sum of money. We have tried to buy another house, but are coming up short on funds and being out of a job AND self-employed, we don’t expect we would qualify for a loan. So after doing the FAFSA for 2016-17, our EFC is $17900! There is no way we can afford that, and I understand since we had to file a 1040, they will not exclude the house money. Any suggestions?