The Ad Council, in partnership with the U.S. Department of the Treasury and the U.S. Department of Housing & Urban Development (HUD), have joined together to launch a new phase of their Foreclosure Prevention Assistance Public Service Advertising (PSA) Campaign. The campaign aims to increase awareness of the Making Home Affordable Program’s free resources and assistance for homeowners who are struggling with their mortgage payments.
Nationwide, one in 11 homeowners has missed two or more mortgage payments. Many struggling homeowners delay conversations about their mortgage concerns and enter foreclosure without ever reaching out for assistance. The new PSAs notify homeowners facing mortgage trouble that options other than foreclosure are available, and the sooner they act, the more options they have for the best possible outcome.
The campaign encourages homeowners to call 888-995-HOPE (4673) to speak one-on-one with a HUD-approved housing expert to discuss the solutions that are available based on their individual circumstances. In addition, the program Web site, MakingHomeAffordable.gov, serves as an online resource for struggling homeowners to learn about options other than foreclosure.
“The Making Home Affordable Program has already assisted over a million homeowners," said HUD Secretary Shaun Donovan. "Housing counselors are ready to continue their work with homeowners to discuss specific solutions for their mortgage problems. Struggling homeowners do not need to work through their concerns alone. The key is encouraging homeowners to pick up the phone now to explore their options.”
Created pro bono by Schafer Condon Carter, a Chicago-based advertising agency, the new television, radio, print, out of home, and online PSAs have been created in English and Spanish. The PSAs aim to inspire homeowners who are unsure of where to turn to reach out for help as soon as possible.
"While the housing market is still distressed, the Administration’s programs have helped establish better standards for the mortgage industry. As a result, struggling homeowners have more options today than ever before, "said Treasury Secretary Tim Geithner. "We are continuing to do everything we can to help stabilize the market and to ease the burden on struggling homeowners. And that includes working to make sure families and individuals know about the resources available to them.”
The Ad Council will distribute the new PSAs to more than 33,000 media outlets nationwide. The new advertisements build on the successful nationwide campaign first launched between Treasury, HUD and the Ad Council in the summer of 2010. The PSAs will air in advertising space donated by the media.