Obama Proposes Mortgage-Relief Plan

    FALLS CHURCH, VA - FEBRUARY 01:  U.S. President Barack Obama delivers remarks on the economy February 1, 2012 at the James Lee Community Center in Falls Church, Virginia. Obama spoke on the mortgage principle reduction plan he had mentioned in his State of the Union address.  (Photo by Alex Wong/Getty Images)

    Alex Wong / Getty Images

    President Obama on Wednesday touted his mortgage-relief plan, and while he did not mention Mitt Romney by name, his comments referenced Romney’s statement a day earlier that the housing market had to bottom out before it got any better. “It is wrong for anybody to suggest that the only option for struggling, responsible homeowners is to sit and wait for the housing market to hit bottom,” Obama said in a speech at a community center in Virginia. The housing plan, parts of which require congressional legislation, is aimed at making it easier for homeowners to refinance. Romney has stated his opposition to this plan, saying he instead believes the answer to fixing the housing market is not in government intervention but in rolling back regulations and allowing the market to fix itself.

    Read it at The New York Times