Obama: House GOP holding up progress for homeowners
Source: CBS News
"One of the heaviest drags on our recovery is getting lighter," the president said, noting that "construction workers are breaking ground on new homes in America at the fastest pace in more than four years. At the same time, more homes are being sold. Home values are back on the rise. And foreclosure filings are at their lowest point in the five years since the housing bubble burst and left millions of responsible families holding the bag."
Crediting his administration with "taking action to help millions of Americans stay in their homes," Mr. Obama celebrated the $25 billion settlement from the biggest banks whose practices "caused this mess," and said he's been able to help hundreds of thousands of responsible homeowners take advantage of historically low rates by refinancing their mortgages.
"I never believed that the best way to deal with the housing market was to just sit back, do nothing, and simply wait for things to hit bottom," he said. "That would have been a disaster for all the responsible families who - through no fault of their own - were struggling to make ends meet."
Now, the president continued, he wants "every homeowner in America" to have the chance to refinance their mortgages. "I just wish it didn't require an act of Congress," he said. A plan he sent to the Hill in February - "a no-brainer that should have passed easily," he said - would offer homeowners the chance to refinance and save $3,000 a year on their mortgage payments.
Read more: http://www.cbsnews.com/8301-34222_162-57536667/obama-house-gop-holding-up-progress-for-homeowners/
It is too bad that the lowest rated, least productive Congress is largely being ignored. Boehner has to be worst Speaker in history given his inability to work with the President or the Senate. Instead, they attempt to end Obamacare over 30 times.
= new reply since forum marked as read
