Foreclosure Prevention Campaign Launched

NeighborWorks America and The Ad Council have launched a new public awareness campaign to help prevent foreclosures by urging struggling homeowners to call for assistance (888-995-HOPE.)"More than one million families will probably face foreclosure this year," said Ken Wade, chief executive officer of NeighborWorks. "Research tells us that more than half of these families will go into foreclosure without ever having any contact with their lender or a financial counselor who could probably help them." The ads will begin airing in July. Homeowners will be encouraged to contact their servicer to discuss their financial options. Solutions will range from establishing a repayment plan to finding a way to exit the mortgage responsibly without going through foreclosure.