Public service ad seeks to stem foreclosures
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- December
- 5
The New York State Banking Department has launched a public service advertisement that encourages consumers to seek help if they are threatened with foreclosure because of late mortgage payments.
The department has provided the ad to television and radio stations statewide. The public service announcement will also be broadcast three times every hour in New York City’s Times Square on the CBS Super Screen through the New Year’s Eve celebration on Jan. 1.
The campaign “is the latest in a series of initiatives we have undertaken to encourage homeowners to take action quickly to avoid losing their homes,” Superintendent of Banks Richard H. Neiman said in a written statement. “The increasing number of foreclosures throughout the nation is having a devastating impact on families and communities, which can be stemmed by more aggressive loan modification programs.”
There were 2,431 foreclosure filings and foreclosure judgments in Westchester County during the past year, an increased of 58.7 percent over 2007, according to county government statistics.
Statewide, foreclosure filings increased 19 percent during the third quarter compared to a year earlier, the banking department said.The public service announcement urges homeowners that have fallen behind on their mortgages to seek help from their lenders, loan servicers and not-for-profit housing counselors. The ad also will refer consumers to a list of of resources available on the department Web site, www.banking.state.ny.us, including housing counselors and and information about the legal rights of homeowners.
This entry was posted
on Friday, December 5th, 2008 at 6:08 pm by Jay Loomis.
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Category: Housing market
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