It's gonna get even worse. What I have seen is banks unwilling to reduce the mortgage payment of those unemployed (due to no fault of their own)because for whatever reason they did not qualify for the government backed program, and the bank is not willing to accept any risk themselves. They would rather foreclose than extend credit to someone who's credit has suffered due to the lack of a job. They do not know what it is like to have to beg & borrow from family & friends. They do not know what it is like to have to decide to pay the electric bill or the car insurance payment this payday. They do not know what it is like to worry if you will run out of diapers or milk before the end of the week.
The bigger problem with this is that we are creating a GENERATION of people who will not be credit worthy. How are the banks going to make money then? They will have to wait till the next generation comes along. Will they go bankrupt in the meantime? Not likely. That would not be good for America, now would it? {sarcasm}