October 24, 2011
President Barack Obama this week will announce a series of actions to help the economy that will not require congressional approval, including an initiative to make it easier for homeowners to refinance their mortgages, according to a White House official.
The actions come as Obama is facing resistance from Republicans to a $447 billion jobs package he has urged Congress to pass.
The first of the initiatives will be unveiled during Obama’s three-day trip to western states beginning Monday.
He will discuss the changes in mortgage rules at a stop in Nevada, which has one of the hardest-hit housing markets in the country.