President Obama could — and should — do more to help the 12-million homeowners struggling to pay their mortgages, a liberal activist group says.
MoveOn.org is pressing Obama to replace Ed DeMarco, the man President Bush appointed to oversee Fannie Mae and Freddie Mac, which hold a majority of U.S. homeowners’ mortgages.
Liberals complain that DeMarco “refused to allow underwater homeowners to adjust their mortgages to reflect the true value of their homes.”
On March 15 — the same day the Senate Banking Committee is scheduled to meet in Washington to discuss mortgage issues — MoveOn.org says it is organizing “big rallies” at Obama campaign offices around the country, in front of bank branches and outside foreclosed homes:
“We’ll tell the president: We’re sinking in underwater mortgages — throw the 99% a lifeline to keep us in our homes.”…
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