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President Obama’s Weekly Address: Urging GOP Lawmakers to Help Homeowners

Source: ABC News

Four years after the economic crisis threatened to destroy the American economy, the president is urging Republican lawmakers to help homeowners who were unfairly disadvantaged by the housing crisis at the heart of the recession.

“We know the biggest cause of that crisis was reckless behavior in the housing market,” the president said in his weekly address. “Millions of Americans who did the right and responsible thing – who shopped for a home, secured a mortgage they could afford, and made their payments on time – were badly hurt by the irresponsible actions of others.”

He urged lawmakers to act on his plan to help homeowners refinance at lower rates.

“It’s a plan that has the support of independent, nonpartisan economists and leaders across the housing industry,” Obama said. “But Republicans in Congress worked to keep it from even getting to a vote. And here we are – seven months later – still waiting on Congress to act. … This makes no sense. Last 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. Instead of worrying about you, they’d already gone home to worry about their campaigns.”

Read more: http://abcnews.go.com/blogs/politics/2012/09/president-obamas-weekly-address-urging-gop-lawmakers-to-help-homeowners/

Weekly Address: It’s Time for Congress to Help Responsible Homeowners


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