Obama Proposes Mortgage-Relief Plan

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.