The US economy has been undergoing various ups and downs.
The home owners are indeed going through a lot of stress.
They are scared of the foreclosures and bankruptcies going all around.
But the Stimulus Package introduced by Barack Obama has given them a sigh of relief.
This plan holds 'affordability' as its keyword.
The main aim of this package is to stop the foreclosures and the bankruptcies in the country.
The Stimulus Package provides several grants to the home owners.
One of these is the debt grants to pay your bills.
What is the Eligibility? The eligibility conditions set by the Federal Government are as follows: * You must be a citizen of U.
S.
* You must be above 18 years of age.
* The requirement must be legal & valid.
How to apply for these Grants? To apply for all these grants you may contact the HUD (U.
S.
Housing and Urban development) department.
There are various counselors appointed by the HUD.
They would help the home owners regarding any of their queries.
They do not even charge any fee for their help or guidance.
They are paid by the Federal Government.
You can use the Federal Government grants to pay your debts.
To get more information on them you can check the US Government website.
Some of the options are given here: * You may apply for a personal loan that you may use to pay your debts or use as your disposable income.
It is one of the debt grants to pay your bills.
* You may apply for a loan modification or a refinance that would restrict your monthly payments to 31% of your gross monthly income.
It is a kind of grant for you.
* The rates of interest have also been reduced from 6.
5% to 5.
16%.
* If you are a woman you can apply for the personal loan & debt in a better way.