Since there have been so many lay offs this led many homeowner unable to pay their monthly mortgages. They may have just received a modification of their loan, but without a job it is impossible to be able to continue to pay and in turn lose their home. Across the country there were more than 550,000 jobs lost from lay offs in the first quarter of 2009.

Detroit, Michigan has been hit the hardest with three major corporations shutting down such as Chrysler and General Motors. The majority of th people working in Detroit worked in car factories since these companies were a major part of what kept the city going. They didn’t call it the motor city for nothing. Since the car companies have had massive lay offs many homeowners lost their homes and those that are still in their homes are sitting on a block with many foreclosed homes. This in turn makes their property value go way down.

Chicago, Illinois is the second city on the list of the highest amount of lay offs with more than 13,000. Los Angeles comes in third with more than 10,000 jobs lost and New York, Houston, and Dallas follow behind with 4,784 to 8,688 lost jobs. Foreclosures have increased in all of these states largely due to job losses.