As the US economy continues to plummet, more and more Americans are drowning in the rising unemployment rate, ballooning mortgage dilemma, and the pinch of fluctuating market prices. It is not surprising that at this time of the economic downturn, lending institutions are stricter in approving loans. The US government has given bailouts to lending companies, and other providers of basic commodities through the stimulus package.
Source:Obama Debt Recovery Program – Federal Loan Modification Plan
