Finance

Free Resources To Help Prevent Foreclosure

Posted: 2/9/2012

Struggling homeowners have more options today in preventing foreclosure.

(NAPSI)—A government program, available since 2009, is helping homeowners who are struggling with their mortgage payments. Yet many homeowners who could be helped by the Making Home Affordable Program do not know that these free resources exist.

To inform homeowners about the program’s resources, the Ad Council, in partnership with the U.S. Department of the Treasury and the U.S. Department of Housing and Urban Development (HUD), recently launched a new phase of their Foreclosure Prevention Assistance public service advertising (PSA) campaign.

According to the Q2 2011 data, one in 11 homeowners nationwide has missed two or more mortgage payments. Not sure where to turn or who to talk to, 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.

Homeowners can call 888-995 HOPE (4673) to speak with a HUD-approved housing expert to discuss the solutions that are available based on their individual circumstances. In addition, the campaign website, MakingHomeAffordable.gov, serves as an online resource for options other than foreclosure.

Created pro bono by Schafer Condon Carter, a Chicago-based advertising agency, the PSAs aim to inspire homeowners to reach out for help as soon as possible. Struggling homeowners have more options today in preventing foreclosure than ever before.

“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.”

“While the housing market is still distressed, the Administration’s programs have helped to establish better standards for the mortgage industry. As a result, struggling homeowners have more options today than ever before,” said Treasury Secretary Timothy Geithner. “We are continuing to do everything we can to help stabilize the market and to ease the burden on struggling homeowners.”

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 last year between Treasury, HUD and the Ad Council. The PSAs will air in advertising space donated by the media.

Learn more at MakingHomeAffordable.gov and 888-995-HOPE (4673).

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