With that kind of thinking you can just take a layoff or quit your job, have your loan modified and then go back to work with a lower mortgage payment.

Too bad most of the folks that they are helping DON"T want to work.....Robin Hood Economics doesn't work.

So, factories are forced to cut production and lay off workers.Much of this demand was false.

Until you get the approval on the first, you can lay off the 2nd lienholder.

Do they know a layoff is coming?

I have been trying to wholesale on the side for 5 months with little results and due to a layoff, (don’t feel bad, I’d rather be doing this than my old job any day of the week.

Even after these many years, there is no guarantee that I will be spared during next company-wide layoffs due to economic conditions.

I see much further consequences once again in hurting corp profits which will result in layoffs etc.

It is quite possible that large cities like Detroit may lead the way in change once the problem gets bad enough.Knowing your market is extremely important and it sounds like you better be well aware of micro-markets in the Detroit area.The Seattle area was faced with huge unemployment in the 69 and 70 when Boeing was forced to layoff so many employees.

I'm still rebuilding my credit from a layoff a year and a half ago, so I wouldn't be able to guarentee anything as far as I can tell for at least another year.