Congress will return next week from its recess and President Obama is urging lawmakers in Washington to start working on many items including both immigration and housing.
In his Saturday weekly address, Obama said there were many reasons the country should feel optimistic about the direction it is headed in. The important thing, said Obama, is to continuing heading in the right direction.
This week the White House administration extended the Home Affordable Modification Program another two years. HAMP is an initiative that helps people that have trouble with their mortgages.
The Department of Housing and Urban Development and the Treasury Department announced on Thursday homeowners now have until December of 2015 to get help from the program.
Under the HAMP program, over 1.1 million owners of homes have been given permanent modification to their mortgages as of April 1. These modifications lowered their mortgage payments by an average of more than $546 per month, about 38% less than what borrowers were previously paying.
On Saturday, Obama praised the new extension saying a housing market once in disarray is now showing signs of strengthening, with construction growing and a drop in prices of homes.
However, Obama said to keep the economy and the housing market growing, Congress had to do its part. Obama said things need to be done and progress made until the families in the middle class start regaining some semblance of security.
He said Congress had to pass the law that would give every homeowner a chance to save nearly $3,000 each year on mortgage payments by refinancing at interest rates that are historically low.
Immigration reform is also staring Congress in the face and those efforts must be worked on so a commonsense reform bill can be passed, said the President.