NY Regulators Advertise Foreclosure Prevention

New York City pedestrians will get tips on how to avoid foreclosure from a giant billboard in Times Square, New York State Superintendent of Banks Richard H. Neiman said during a teleconference. This effort is a creative public service announcement that will also run on local television stations across the state, he said. It targets two specific groups of homeowners, those falling behind on their mortgage payments and those who already are facing foreclosure. Viewers are advised to either call the New York Banking department or visit its website to find default and foreclosure related information, such as how to find qualified counselors in their area. The state estimates 1.5 million people, including New Yorkers, surrounding area commuters and tourists, pass through Times Square during the holiday season.