Deep thats what you call falling.
Downsized lifestyle
The Booses, meantime, have gradually, sometimes painfully, downsized their way of life. In late 2008, they suspended the country club membership, stopped maid service and didn't schedule anymore vacations. In the spring, Boose laidhis own mulch in the yard instead of hiring a landscaper, saving $500. Last summer, they turned off the air conditioner and axed their DirecTV NFL package.
Recently, they put off their kids' semiannualdental checkups and braces for their 11-year-old, Emily. They didn't put up their outdoor Christmas "icicle" lights to save power.
"If he comes home with a sandwich for lunch, I'm like, 'Why did you spend money on that?' " Karen says. "It's not the stuff I miss; it's the insecurity, the not knowing."
The kids are feeling it, too. Christmas lists were halved to five items. Still, Jillian, 10, said, " 'Mom, you can take off two things, cause that's a lot of money,' " Karen says. "They know, and that breaks my heart."
Jeff, whose $450 a week in unemployment runs out in March, adds: "When you read about people who can't afford to buy food you said, 'How do they do it?' Now, we're living day by day."
Gone are the couple's $200,000 in retirement savings and Jeff's six-month severance. "People say you should have three months in reserves," Karen says. "We had that, and it didn't do any good. No one says (have) 15 months."
Boose, meanwhile, struggles with the loss of professional stature. "I've been used to being in firms that make and spend a lot of money and meeting with very senior people. Now, I'm looking at the guy in Home Depot , thinking how lucky he is to have a job."
Their ravaged balance sheet has strained relationships with friends still enjoying the good life.
"We're kind of on the outside with everyone still taking vacations," Boose says. "They know we're not going to spend $200 on dinner, so they don't even ask you. Then you feel slighted that they don't even ask."
The travails of some senior executives have been compounded by the housing downturn. In 2005, Dave DeGeorge was recruited by Prudential Real Estate and Relocation Services to be vice president of information technology development. DeGeorge moved his family to Phoenix from New Jersey, buying a new $750,000 house loaded with amenities to ease the transition for their two boys, ages 9 and 13.
He was laid off in late 2007 just as the real estate market tanked. His house is worth half of what he paid. While DeGeorge, 53, has had periodic contract work, the wages don't approach his former $215,000 in pay. He now collects $265 a week in unemployment. Besides $75,000 in credit card bills ? about $50,000 rung up after he lost his job ? he owes a $4,500 monthly mortgage payment that he's seeking to modify.
"I was really in denial for a while, and what I did was try to maintain the same lifestyle with some cutbacks," he says.
Since he owes far more than his house is worth, DeGeorge can't sell it, forcing him to limit his job search to the Phoenix area. And he can't get a home-equity loan to pay off his other debts. His wife recently took a part-time job at Barnes & Noble, and DeGeorge filed for Chapter 13 bankruptcy protection. Unlike Chapter 7, which lets a debtor relinquish his assets and walk away from his debts, Chapter 13 sets up a long-term payment plan.
"It's extremely tough," he says. Before, "I borrowed, I paid back." He routinely paid his credit card bills with a yearly $55,000 bonus.
Deep thats what you call falling.
Downsized lifestyle
The Booses, meantime, have gradually, sometimes painfully, downsized their way of life. In late 2008, they suspended the country club membership, stopped maid service and didn't schedule anymore vacations. In the spring, Boose laidhis own mulch in the yard instead of hiring a landscaper, saving $500. Last summer, they turned off the air conditioner and axed their DirecTV NFL package.
Recently, they put off their kids' semiannualdental checkups and braces for their 11-year-old, Emily. They didn't put up their outdoor Christmas "icicle" lights to save power.
"If he comes home with a sandwich for lunch, I'm like, 'Why did you spend money on that?' " Karen says. "It's not the stuff I miss; it's the insecurity, the not knowing."
The kids are feeling it, too. Christmas lists were halved to five items. Still, Jillian, 10, said, " 'Mom, you can take off two things, cause that's a lot of money,' " Karen says. "They know, and that breaks my heart."
Jeff, whose $450 a week in unemployment runs out in March, adds: "When you read about people who can't afford to buy food you said, 'How do they do it?' Now, we're living day by day."
Gone are the couple's $200,000 in retirement savings and Jeff's six-month severance. "People say you should have three months in reserves," Karen says. "We had that, and it didn't do any good. No one says (have) 15 months."
Boose, meanwhile, struggles with the loss of professional stature. "I've been used to being in firms that make and spend a lot of money and meeting with very senior people. Now, I'm looking at the guy in Home Depot , thinking how lucky he is to have a job."
Their ravaged balance sheet has strained relationships with friends still enjoying the good life.
"We're kind of on the outside with everyone still taking vacations," Boose says. "They know we're not going to spend $200 on dinner, so they don't even ask you. Then you feel slighted that they don't even ask."
The travails of some senior executives have been compounded by the housing downturn. In 2005, Dave DeGeorge was recruited by Prudential Real Estate and Relocation Services to be vice president of information technology development. DeGeorge moved his family to Phoenix from New Jersey, buying a new $750,000 house loaded with amenities to ease the transition for their two boys, ages 9 and 13.
He was laid off in late 2007 just as the real estate market tanked. His house is worth half of what he paid. While DeGeorge, 53, has had periodic contract work, the wages don't approach his former $215,000 in pay. He now collects $265 a week in unemployment. Besides $75,000 in credit card bills ? about $50,000 rung up after he lost his job ? he owes a $4,500 monthly mortgage payment that he's seeking to modify.
"I was really in denial for a while, and what I did was try to maintain the same lifestyle with some cutbacks," he says.
Since he owes far more than his house is worth, DeGeorge can't sell it, forcing him to limit his job search to the Phoenix area. And he can't get a home-equity loan to pay off his other debts. His wife recently took a part-time job at Barnes & Noble, and DeGeorge filed for Chapter 13 bankruptcy protection. Unlike Chapter 7, which lets a debtor relinquish his assets and walk away from his debts, Chapter 13 sets up a long-term payment plan.
"It's extremely tough," he says. Before, "I borrowed, I paid back." He routinely paid his credit card bills with a yearly $55,000 bonus.
Deep thats what you call falling.Downsized lifestyle The Booses, meantime, have gradually, sometimes painfully, downsized their way of life. In late 2008, they suspended the country club membership, stopped maid service and didn't schedule anymore vacations. In the spring, Boose laidhis own mulch in the yard instead of hiring a landscaper, saving $500. Last summer, they turned off the air conditioner and axed their http://content.usatoday.com/topics/topic/Culture/Television/Equipment+and+Services/DirecTV+GroupDirecTV NFL package.Recently, they put off their kids' semiannualdental checkups and braces for their 11-year-old, Emily. They didn't put up their outdoor Christmas "icicle" lights to save power."If he comes home with a sandwich for lunch, I'm like, 'Why did you spend money on that?' " Karen says. "It's not the stuff I miss; it's the insecurity, the not knowing."The kids are feeling it, too. Christmas lists were halved to five items. Still, Jillian, 10, said, " 'Mom, you can take off two things, cause that's a lot of money,' " Karen says. "They know, and that breaks my heart."Jeff, whose $450 a week in unemployment runs out in March, adds: "When you read about people who can't afford to buy food you said, 'How do they do it?' Now, we're living day by day."Gone are the couple's $200,000 in retirement savings and Jeff's six-month severance. "People say you should have three months in reserves," Karen says. "We had that, and it didn't do any good. No one says (have) 15 months."Boose, meanwhile, struggles with the loss of professional stature. "I've been used to being in firms that make and spend a lot of money and meeting with very senior people. Now, I'm looking at the guy in http://content.usatoday.com/topics/topic/Organizations/Companies/Retail/Home+DepotHome Depot, thinking how lucky he is to have a job."Their ravaged balance sheet has strained relationships with friends still enjoying the good life."We're kind of on the outside with everyone still taking vacations," Boose says. "They know we're not going to spend $200 on dinner, so they don't even ask you. Then you feel slighted that they don't even ask."The travails of some senior executives have been compounded by the housing downturn. In 2005, Dave DeGeorge was recruited by Prudential Real Estate and Relocation Services to be vice president of information technology development. DeGeorge moved his family to Phoenix from New Jersey, buying a new $750,000 house loaded with amenities to ease the transition for their two boys, ages 9 and 13.He was laid off in late 2007 just as the real estate market tanked. His house is worth half of what he paid. While DeGeorge, 53, has had periodic contract work, the wages don't approach his former $215,000 in pay. He now collects $265 a week in unemployment. Besides $75,000 in credit card bills ? about $50,000 rung up after he lost his job ? he owes a $4,500 monthly mortgage payment that he's seeking to modify."I was really in denial for a while, and what I did was try to maintain the same lifestyle with some cutbacks," he says.Since he owes far more than his house is worth, DeGeorge can't sell it, forcing him to limit his job search to the Phoenix area. And he can't get a home-equity loan to pay off his other debts. His wife recently took a part-time job at Barnes & Noble, and DeGeorge filed for Chapter 13 bankruptcy protection. Unlike Chapter 7, which lets a debtor relinquish his assets and walk away from his debts, Chapter 13 sets up a long-term payment plan."It's extremely tough," he says. Before, "I borrowed, I paid back." He routinely paid his credit card bills with a yearly $55,000 bonus.
Off topic Dynaj,why yourno longer posting on the classic board, I haven't seen you around them parts in a long minute?
Off topic Dynaj,why yourno longer posting on the classic board, I haven't seen you around them parts in a long minute?
Off topic Dynaj,why yourno longer posting on the classic board, I haven't seen you around them parts in a long minute?
Never been to this board. The classic button at the top of thepage leads to an error page. What's the deal ?
Never been to this board. The classic button at the top of thepage leads to an error page. What's the deal ?
Never been to this board. The classic button at the top of thepage leads to an error page. What's the deal ?
Do not ask the Lord to guide your footsteps if you are not willing to move your feet. -Anonymous MICHAEL JACKSON WAS A KING LOOOOOONG BEFORE SHE SAID SO !
