Republicans, including the presidential candidates, generally oppose federal aid for distressed homeowners as a bailout for people who made bad choices. The new program, and the emphasis on unilateral action, seem likely to inflame that opposition.
The plan’s modesty, meanwhile, may not assuage Democrats’ anger at the administration for doing too little to help homeowners repair their shattered finances, particularly in the face of evidence that the housing crisis is a major impediment to renewed economic growth.
Speaking in Las Vegas on Monday — in the center of the housing crisis and in a presidential battleground state — Mr. Obama addressed both groups of critics. The problems required government action, he said, and while the new changes were not by themselves sufficient, “that is no excuse for inaction.”
“I’m here to say that we can’t wait for an increasingly dysfunctional Congress to do its job,” he said. “Where they won’t act, I will.” He added, however, that Congress should pass the measures he proposed in September to stimulate growth, create jobs and help the housing market.
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