The Advertising Council, in partnership with NeighborWorks America, announced today the launch of new national public service advertisements (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 percent 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.
“With an estimated 4 million homeowners at imminent risk of foreclosure this year, there is an urgent need to reach those homeowners and provide them with the information and counseling they need to move forward and make the right decisions,” said Ken Wade, CEO of NeighborWorks America. “It is an increasingly cluttered and confusing marketplace and even though homeowners want to take action, they are unsure of the steps they can take to prevent foreclosure. We are pleased to partner with the Ad Council and Cossette New York on this campaign to provide homeowners with a clear next step – call the HOPE hotline.”