National Ad Campaign Seeks to Curb Foreclosures

NeighborWorks America, a national nonprofit group, is launching a new ad campaign in conjunction with the Ad Council to warn home owners that inaction is the worst possible response to mortgage troubles.

The campaign seeks to prevent foreclosures by urging home owners in financial trouble to call the Homeownership Preservation Foundation HOPE hotline, at 888/995-HOPE. Find them on online at http://www.995hope.org

“Homeowners are facing foreclosure at record rates. This issue reaches into every social and economic demographic out there," says Colleen Hernandez, president and executive director of the Homeownership Preservation Foundation.

The National Ad Council produced the public service announcements, which are set to air on TV and radio in 16 markets across the country.

One TV spot shows how ominous phone calls from collection agencies dampen the spirits of a family having a lively conversation at dinner, while another shows a girl playing with a toy house as her family leaves their home, before a voice urges viewers to call a national hotline if they fear they could lose their home.

NeighborWorks says that foreclosures are devastating not only for families, but for the entire community. "For hard-hit neighborhoods around the country where dozens of homes within blocks of each other have been foreclosed upon, neighboring home owners can expect their home values to drop by 10 percent or more," the organization says.