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Obama wants help for more homeowners

By DARLENE SUPERVILLE

Associated Press

A home sits for sale in Mt. Lebanon, Pa., earlier this month. A resurgent housing market, rising home values and steady job gains are helping more U.S. homeowners stay on top of their mortgage payments. The percentage of mortgage holders at least two months behind on their payments fell by 21 percent in the first three months of this year versus the same period in 2012. (AP Photo/Gene J. Puskar)

WASHINGTON (AP) – President Barack Obama says Congress must give more homeowners the chance to refinance their mortgages to save money.

Obama says more than 2 million people are saving about $3,000 a year after restructuring their loans under his administration but that more deserve the same chance.

In his weekly radio and Internet address, Obama also calls on the Senate to confirm “without delay” his choice of Democratic Rep. Mel Watt to lead the Federal Housing Finance Agency, which oversees government-controlled mortgage lenders Fannie Mae and Freddie Mac.

Obama says the North Carolina congressman helped enact rules to protect consumers from dishonest lenders.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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