Barack Obama, Refinance | featured news

U.S. President Barack Obama is urging the Republicans in Congress to pass legislation that would help responsible homeowners refinance their mortgages at historically low rates.

Seeking to make Congress a major issue in his re-election bid, President Obama called on lawmakers today to pass a bill designed to help struggling homeowners re-finance their properties.

Obama is expected to announce a fresh bid to revive the housing market—despite likely congressional opposition—by letting millions of homeowners refinance their mortgages.

On recent initiatives, President Obama used his executive authority rather than seeking legislation... During a three-day Western trip that ended Wednesday, Obama announced initiatives that could help 1.6 million college students repay their federal loans, 1 million homeowners meet their mortgage payments, and 8,000 veterans find jobs.