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Obama to use executive powers on fiscal ills

1st steps target mortgage rules, college loans

By Jackie Calmes

 |  New York Times  

  October 24, 2011

With his jobs plan stymied in Congress by Republican opposition, President Obama will begin a series of executive-branch actions today to confront housing, education and other economic problems over the coming months, heralded by a new mantra: “We can’t wait’’ for lawmakers to act. According to an administration official, Obama will kick off his new offensive in Las Vegas, ground zero of the housing bust, by promoting new rules for federally guaranteed mortgages so that more homeowners, including those with little or no equity in their home, can refinance and avert foreclosure.

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