Speaker John Boehner (R-Ohio) mocked President Obama's latest housing plan to open up refinancing for homeowners underwater on their mortgages.
“How many times have we done this?” Boehner asked during a press conference.
“We’ve done this at least four times, where there’s some new government program to help homeowners who have trouble with their mortgages. None of these programs have worked. I don’t know why anyone would think this next idea is going to work.”
Obama's proposal would allow millions to rewrite their mortgages using federally insured loans.
“All they’ve done is delay the clearing of the market,” Boehner said.“The sooner the market clears and we understand where the prices really are will be the most important thing we can do in order to improve home values around the country."
He said he would work with Obama adding he was "always open to working with the president of the United States. We both have a job to do. If it makes economic sense and it’s fiscally responsible, I’ll take a look at it.”
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