WASHINGTON – Homeowners unable to pay monthly mortgage bills and facing foreclosure shouldn’t count on help from Washington this year. Regulators and lawmakers seem to be taking a wait-and-see approach as they confront the fallout from several years of lenders making too many home loans to people with inadequate credit. It would be a mistake to overreact to a market that is already showing signs of self-correcting at a time when little evidence has emerged that the broader economy is at risk, according to regulators and some lawmakers. They also note that consumer spending remains solid, the nation’s jobless rate is still low, and stock indexes recently have hit record highs in reaction to strong corporate profits. “We have an obligation to prevent fraud and abusive lending,” Federal Reserve Chairman Ben Bernanke said in a speech Tuesday. “At the same time, we must tread carefully so as not to suppress responsible lending or eliminate refinancing opportunities for subprime borrowers.” Consumer advocates, who see a rare opportunity to strengthen lending laws, say that represents a misguided optimism, and point to housing statistics as proof that action is warranted. The National Association of Realtors said Wednesday it expects sales of existing homes to drop 4.6 percent this year to 6.2 million while the median home price is expected to fall 1.3 percent to $219,000. It would be the first annual drop since the trade group began keeping records in the 1960s. The foreclosure rate nationwide is rising at an annual rate double that of two years ago. Nearly 2 million adjustable-rate mortgages are forecast to reset at higher rates over the next two years, suggesting the foreclosure rate has not peaked. If the prospect of soaring foreclosures doesn’t motivate Congress “to take firm and deliberate action, I don’t know what on this God’s earth will,” says John Taylor, president of the National Community Reinvestment Coalition. Lenders say they are already working to assist homeowners in trouble. After attending a “homeownership preservation summit” called by Sen. Christopher Dodd, a Connecticut Democrat who chairs the Senate Banking Committee, big lenders, including Wells Fargo & Co., Countrywide Financial Corp., HSBC Holdings PLC, Citigroup Inc. and mortgage finance giants Fannie Mae and Freddie Mac agreed to help borrowers modify loan terms before they reset to higher rates.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!