Citigroup, JP Morgan are taking into consideration the amount of time it takes to rework older, more delinquent mortgages. Citgroup is going to aide 3 million homeowners in totally reducing loan payments, reducing interest rates. Now with major financial institutions willing to participate in Federal Backed loan-modification program another program yet presents itself in the equation. The unemployment rate in the United States is projected to rise. The U.S. unemployment rate jumps to 6.5%, this further denotes the economic instability that threatens many Americans.

With the unemployment rate jumping to 6.5% will this only make matters worse for homeowners that are behind on their mortgages?

Remarks and questions are always welcome.