Tuesday, October 25, 2011

Obama to Bypass Congress on Mortgages

With Republicans continuing to stall action on President Obama's $447 billion jobs bill, the White House is taking action to help jump-start the economy with the message "We can't wait."

President Obama is going to begin a series of executive branch actions that will not require action from Congress - or the assent of Republicans.

With recovery in the housing market tied to economic recovery, Mr. Obama will today announce what senior officials are calling a "major overhaul" of the government's underused refinance program for federally guaranteed mortgages, in order to aid homeowners having difficult refinancing their housing loan.

http://www.cbsnews.com/8301-500202_162-20124562/obamas-new-call-we-cant-wait