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President Obama Focuses on Housing Market in Weekly Address, Mitt Romney Wanted Bank Foreclosures to Continue

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President Obama Focuses on Housing Market in Weekly Address, Mitt Romney Wanted Bank Foreclosures to Continue (Photo credit: Wikipedia)

President Obama focused on the housing market during his weekly address September 29. Um, the same housing market Mitt Romney preferred to see banks continue their foreclosure campaign and not help struggling homeowners. President Obama called on Congress to act and pass a mortgage refinance measure and help responsible homeowners.

CNN:  “The truth is, it’s going to take a while for our housing market to fully recover,” he said. But it’s going to take a lot more time – and cause a lot more hurt – if Congress keeps standing in the way.”

He urged Congress to pass the Home Affordable Refinance Program measure that would triple the number of homeowners who would be eligible to refinance their mortgage, according to data from the White House.

And Obama included a jab at Mitt Romney, who said in a 2011 interview with a Nevada newspaper that the housing market would be served best by not trying “to stop the foreclosure process. Let it run its course and hit the bottom.”

Obama said, “I know that there are some who think that the only option for homeowners is to just stand by and hope that the market has hit bottom. I don’t agree with that.”

The president has made a theme of calling for Congressional action in his recent weekly addresses, while Republicans typically use theirs to argue that Obama and the Democratic-controlled Senate is sitting in the way.

Watch President Obama calling for mortgage refinance measure:

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