HUD Secretary Donovan and Iowa Attorney General Tom Miller Unveil First Public
Service Announcement for $25 Billion Mortgage Servicing Settlement Television PSAs, Homeowner Help Website, New Mortgage Assistance Guide launched to educate
homeowners about resources available to them through historic mortgage servicing settlement
WASHINGTON – U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan and Iowa Attorney General Tom Miller announced today the launch of the National Mortgage Servicing Settlement’s first public service announcement (PSA) television ad titled “Homeowner Help.” The PSA, which can be viewed at www.hud.gov and www.nationalmortgagesettlement.com, is designed to educate homeowners about the resources available to them through the mortgage servicing settlement.
The “Homeowner Help” PSA, amplified through three key components – 30 second television and radio spots, customized for both national and local media markets, a HUD Homeowner Help website and a new Mortgage Assistance Guide– is aimed at educating homeowners about the various options and opportunities they can seek for assistance to find out if they are eligible to benefit from the settlement.
“The National Mortgage Servicing Settlement represents the single largest-scale principal reduction effort we’ve seen since this housing crisis began and the PSAs and online tools announced today will create an extended opportunity for homeowners, across the country, to gain access to information, options and opportunities that could help to keep them in their homes,” said HUD Secretary Shaun Donovan. “Already the servicing settlement is helping homeowners and making a difference, and our goal is to ensure every eligible family is aware of the help it provides.”
In addition to being televised, “Homeowner Help” will also be broadcast in both English and Spanish language radio formats for national and localized markets. The launch of the national PSA and new online tools will remind people who are in mortgage trouble, to call the their servicer, Homeowner’s HOPE Hotline at 888-995-HOPE or visit the national settlement website at NationalMortgageSettlement.com to seek out available help.
“If we learned anything from the housing crisis, it is that that there is no one solution,” said Iowa Attorney General Tom Miller. “We want homeowners to know the possibilities that they have with this settlement. PSAs are already running in Iowa and we’re hopeful that information shared helps people in a substantial way.”
In April, a Federal District Court approved the landmark $25 billion agreement between the Justice Department, the Department of Housing and Urban Development, 49 state attorneys general and the nation’s five largest mortgage servicers – Ally/GMAC, Bank of America, Citi, JP Morgan Chase, and Wells Fargo – to address mortgage loan servicing and foreclosure abuses. The settlement will provide up to $25 billion in relief to borrowers and direct payments to the states and federal government and it is the largest multi-state settlement since the Tobacco Settlement in 1998.
Announcer: Are you a homeowner who’s facing mortgage trouble?
A government settlement with the nation’s biggest mortgage servicers provides help and hope for many people fighting to save their homes from foreclosure.
If you’re behind on your home loan, call your mortgage servicer—that’s who handles your mortgage.
See if this settlement affects you and if maybe there’s other help available.
Contact your state attorney general, click on NationalMortgageSettlement.com, or call the Homeowner’s HOPE Hotline at 888-995-HOPE.
HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers; meet the need for quality affordable rental homes: utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination; and transform the way HUD does business. More information about HUD and its programs is available on the Internet at www.hud.gov and http://espanol.hud.gov. You can also follow HUD on twitter @HUDnews, on facebook at www.facebook.com/HUD, or sign up for news alerts on HUD's News Listserv.