HUD Begins Six-City Financial Literacy Campaign

Posted by Orb Staff on January 15, 2009 No Comments
Categories : Mortgage Servicing

In an effort to prevent foreclosure, the U.S. Department of Housing & Urban Development (HUD) has launched a consumer education campaign in six cities.

The ‘Keep Your Home. Know Your Loan.’ campaign will kick off in Chicago, Detroit, Los Angeles, Miami, New York and Phoenix, according to HUD Secretary Steve Preston. The campaign will include print, radio and television public service announcements (PSAs), as well as a tool kit for nonprofit counseling agencies that will support the effort.

In each PSA, consumers are directed to call HUD's toll-free counseling hotline to arrange free, face-to-face meetings with a counselor near them. Because most HUD-approved counseling agencies lack the resources for marketing and outreach, the department is launching this campaign to help consumers earlier in their financial crisis and to fight the explosion of ‘pay-to-play’ loan modification scams.

SOURCE: HUD

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