The Ad Council, in partnership with NeighborWorks America, launched a new national PSA designed to educate homeowners about where they can turn for help if they are at risk of foreclosure. The campaign encourages distressed homeowners to call the Homeowner’s HOPE Hotline, a free resource that helps homeowners facing foreclosure move closer to finding a resolution.
When the campaign was originally launched in 2007, an estimated 1 million homes were at risk of foreclosure. Since then, this number has continued to rise over the years. According to RealtyTrac data, foreclosure filings in the first quarter of 2010 were at almost 1 million properties, a 7% increase from the fourth quarter of 2009. Furthermore, this trend is expected to continue throughout this year, with an estimated 4 million homes at imminent risk of foreclosure, affecting homeowners in all communities, of all ethnicities and income levels.
Created pro bono by Cossette New York, the new television and radio PSAs, available in English and Spanish use attention-grabbing humor and hyperbole to urge homeowners in financial trouble to call the HOPE Hotline at 888-995-HOPE as a first step to a resolution.
The HOPE hotline is the cornerstone of a foreclosure prevention effort involving many of the country’s largest mortgage market companies. It provides homeowners with information about real options to move forward to a resolution as well as an opportunity to work with HUD-approved housing counselors, free of charge, who understand the situation and have the information and counsel needed.
“We are thrilled to continue our partnership with NeighborWorks America on this very critical issue of home foreclosures that affects so many Americans,” said Peggy Conlon, President and CEO, the Ad Council. “We are confident that these new PSAs will provide homeowners struggling with their mortgages the information they need to make the best decisions for their future.”
The Ad Council is distributing the new PSAs to more than 33,000 media outlets nationwide this week. Print and outdoor advertising will be available later this month.