By David Eldridge-The Washington Times
President Obama on Saturday urged Congress to pass his plan to ease mortgage refinancing for more cash-strapped homeowners.
â€œBack in February, I sent Congress a plan to give every responsible homeowner the chance to save about $3,000 a year on their mortgages by refinancing at lower rates,â€ the president said in his weekly radio and Internet address.
The presidentâ€™s remarks followed Wednesdayâ€™s housing market report from analytics firm Fisery that showed home prices slowly recovering in the nation.
â€œWeâ€™re moving in the right direction, but weâ€™re not there yet. There are still millions of Americans who are struggling with their mortgages, even at a time of historically low rates,â€ the president said.
Mr. Obama urged Congress, which is on a recess, to get behind his refinancing proposals.
â€œItâ€™s a plan that has the support of independent, nonpartisan economists and leaders across the housing industry. But Republicans in Congress worked to keep it from even getting to a vote. And here we are â€” seven months later â€” still waiting on Congress to act,â€ he said. â€œLast week, mortgage rates were at historic lows. But instead of helping more and more hardworking families take advantage of those rates, Congress was away on break.â€
â€œThe truth is, itâ€™s going to take a while for our housing market to fully recover. But itâ€™s going to take a lot more time â€” and cause a lot more hurt â€” if Congress keeps standing in the way.â€
To read more, visit: Â http://p.washingtontimes.com/news/2012/sep/29/obama-urges-congress-help-homeowners/
Don’t let the MSM censor your news as America becomes Great Again. Over 500,000 Americans receive our daily dose of life, liberty and pursuit of happiness along with Breaking News direct to their inbox—and you can too. Sign up to receive news and views from The 1776Coalition!
We know how important your privacy is and your information is SAFE with us. We’ll never sell
your email address and you can unsubscribe at any time directly from your inbox.