Based on what we have saved we can continue on, business as usual, for 13 months (though I'll probably consider putting the house on the market in May, if it comes to it, just because it'll be easier to sell it in the spring/summer before the school year starts and it'll also stretch the money a couple more months before we need to tap into investments).
Not only are we (well, she I guess) collecting unemployment, but we've also already negotiated with lenders to have loans put into deferment/forbearance or to have minimum payments reduced.
Do everything that you can NOW to minimize overhead and maximize income.
I generally operate by the maxim that it's better to beg forgiveness than ask permission. I reverse that 180 degrees when dealing with finances. Lenders and creditors are always more willing to work with you before you become a problem for them.
If you're back to work in a couple weeks, that's great. You make a couple phone calls and put everything back to rights.
If you're still unemployed in 15 months you'll be glad that you were proactive.
And if you do have to unload your house you'll be glad five or seven years down the road that you didn't corner yourself into a short sale or foreclosure.
Unemployment insurance is insurance.
Just like car insurance or health insurance.
You "buy" it to protect yourself against the eventuality that you may someday become unemployed (or require medical care, or total your car).
You don't run out and pay cash for major surgery, or to replace a totaled car just because you can.
Likewise, you don't wait to claim unemployment insurance payments just because you don't need them right this minute.
The minute you lose your job you make a claim against your insurance.
If you're not entitled to it at present, for whatever reason, let the insurer make that decision.
Take the money and stick it in the bank and then tack it on to the back end if need be.