I recently purchased (3 days ago) a new home (10 years old) but new to me. Yesterday we began the demo of the kitchen and to our surprise found rotten wood under the tile below the refrigerator. Looking more carfully I noticed staining traveling along the wall and going behine the cabinets. After pulling out the cabinets I found mold growing up the drywall. After tearing out the drywall I found rooten wood going under the base plate of the kitchen wall and oh yeah the base plate is rotten to. Did I mention it is a load bearing wall. Anyway, I am not a contractor and I have a limited budget; do any of you have any sugestions of how to remove the base plat without having to call in a contractor (LIMITED BUDGET). I had a frriend tell me to cut and replace the plate under alternating studss, then come back and tie the studs together using a piece of 2x4 cut to fit between the studs. Can this work or is he just blowing up my skirt?

Any help would be greatly appreciated...