Ad campaign targets foreclosure risks

Local News

October 10, 2008

By Wade Coggeshall The Hendricks County Flyer Fri Oct 10, 2008, 04:46 PM EDT

With the housing market still in turmoil because of an alarming increase in the number of foreclosures, community organizations are banding together in an effort to stem the tide.

NeighborWorks America, a network of community developers that helps low- to moderate-income families become homeowners, and the non-profit Ad Council have teamed to create a media blitz in Indianapolis that directs at-risk homeowners where to turn for help.

Billboards and public service announcements in print and on TV and radio are directing homeowners facing foreclosure to call (888) 995-HOPE. There they can talk with counselors certified by the Department of Housing & Urban Development, who will discuss their financial situation and offer potential options.

“The hope is families that are affected will call the help hotline to try to stave off foreclosure,” said Kathy Crosby, group campaign director for the Ad Council, adding that similar media blitzes are underway in cities like Detroit, Washington, D.C., and New York City, where foreclosures also are high.

Paul Poston, district director of the Great Lakes Region for NeighborWorks (which includes Indiana), said more than 3,000 homes were foreclosed on in February alone in this state. He added that one in 37 Hoosier homeowners are at risk of losing their home because of their subprime loans. Nationally an estimated 1.8 million families are at risk.

NeighborWorks took notice of the issue as far back as 2000, when one of its Chicago affiliates saw a high foreclosure rate in its area. The program that resulted from that became the model for this campaign.

“The wave of foreclosures has had us refocus our efforts to help people sustain home ownership,” Poston said. “It’s really changed our whole focus in the last couple years.”

NeighborWorks started collaborating with the Ad Council on this issue in early 2006. The first public service announcements were seen that summer.

“We saw what was coming and tried to get ahead of the crisis, when foreclosures started becoming a very visible issue,” Crosby said.

The ads seen here depict a family ignoring a ringing telephone, a wrecking ball destroying a house, the sound of a homeowner getting deeper and deeper into a hole, and a child packing a dollhouse to move.

Crosby says research they’ve seen shows that people facing foreclosure often feel embarrassed and afraid, to the point of denial. Not only do they not seek help, but will actually avoid any outreach, even from their own lender.

“What we’re trying to do is help people understand that you have to do something,” Crosby said. “Doing nothing is worse because then you will be faced with serious consequences.”

It’s not just the economics that affect a community.

“We know vacant properties attract criminal activity,” Mayor Greg Ballard said in a statement. “Our current mapping illustrates that foreclosure is one of the reasons properties often become vacant to begin with. Fighting foreclosure in an important step we can take as a city to improve public safety and the quality of life for our citizens.”

Though Poston says he’s troubled by the increase in foreclosures, he’s confident a re-emphasis on educating citizens in every step of the home-buying process will change the trend.

“It’s our observation that the people that work with a NeighborWorks-certified home buyer education counselor are more default resistant,” he said. “If those resources are more broadly available and are accessed by more people, it could help with this kind of thing from recurring.”

Until then, Crosby says the ad campaign will continue as long as it’s necessary.

“We have a long-term commitment to this,” she said. “The goal is to keep as many families in their homes as possible. As long as there’s a need, the message will be out there.”

———

Online:

www.nw.org

www.adcouncil.org

wade.coggeshall@flyergroup.com

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