Gemini-1,
No, you are certainly not grounded, but you must face up to some reality before you mortgage your house, sell your wife, put your kids into slavery.
There are a lot of low hour guys out there looking for their first job. Some as young as 20 with their frozen ATPL. Jobs can be found at that level, provided you don't set your sights too high. Many of the people I meet seem to think that they have to start with Jet, whereas there are jobs available in the air taxi and commuter world.
To start off down the road of getting your ATPL, you must be sure that you can survive three to four years with NO EARNINGS WHATSOEVER from flying.
I have met quite a number of pilots who started into flying as a second career. I've even given one or two of them jobs.
If I can be of any furthe assistance , e-mail me.
H