WASHINGTON — President Barack Obama offered mortgage relief on Monday to hundreds of thousands of Americans, his latest attempt to ease the economic and political fallout of a housing crisis that has bedeviled him as he seeks a second term.
“I’m here to say that we can’t wait for an increasingly dysfunctional Congress to do its job,” the president declared outside a family home in Las Vegas, the epicenter of foreclosures and joblessness. “Where they won’t act, I will.”
Making a case for his policies and a new effort to circumvent roadblocks put up by Republican lawmakers, Obama also laid out a theme for his re-election, saying that there’s “no excuse for all the games and the gridlock that we’ve been seeing in Washington.”
“People out here don’t have a lot of time or a lot of patience for some of that nonsense that’s been going on in Washington,” he said.
The new rules for federally guaranteed loans represent a recognition that measures the administration has taken so far on housing have not worked as well as expected.
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