Market Overview

Struggling Homeowners Urge to Learn Foreclosure Prevention

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Struggling homeowners, particularly those having problems with their mortgages, should take the effort to learn foreclosure prevention assistance through the Making Home Affordable Program.

 

The U.S. Department of the Treasury (Treasury), the U.S. Department of Housing and Urban Development (HUD), and the Ad Council launched a collaborative new effort through a series of public service advertisements (PSAs) as a part of their Foreclosure Prevention Assistance campaign.

 

“As the economy continues to heal from the Great Recession, many homeowners still struggle to make their mortgage payments,” said Deputy Treasury Secretary Sarah Bloom Raskin. “The good news is that help is still available. This new PSA campaign is our latest effort to raise awareness of the free government resources available through Making Home Affordable to assist struggling homeowners in avoiding foreclosure.”

 

MHA launched in 2009 and is a critical part of the Administration's strategy to help homeowners avoid foreclosure, stabilize the country's housing market, and improve the nation's economy. The program offers a range of solutions, including lower monthly mortgage payments for struggling homeowners, as well as options for unemployed or underemployed homeowners and those who owe more than their homes are worth. To date, MHA has helped more than 1.5 million families nationwide.

 

This latest phase of the campaign aims to reach struggling homeowners who may be current on payments, but are, as a result of some hardship, juggling expenses to make ends meet. Many of these homeowners may be unaware that MHA has expanded its options, and may have a solution available to address their particular financial situation.

 

Nearly 1 in 17 homeowners has fallen behind on his or her mortgage, underscoring the continued need for MHA, which was recently extended through at least December 31, 2016.

 

“Although the housing market and economy are making a steady recovery, many struggling homeowners would still benefit from the one-on-one counseling services a HUD-approved housing agency can provide them,” said Federal Housing Administration Commissioner Carol Galante. “More than 1.5 million families have already benefitted from the Making Home Affordable Program, and we hope this effort to educate homeowners will lead to many more families using these free services and getting the help they need to stay in their homes.” 

 

“While MHA has already helped so many across the country, our research shows that many families continue to rebalance their finances to meet their mortgage payments. They know they need help but don’t know where to find it,” said Peggy Conlon, president and CEO of the Ad Council. “We hope the advertising will reach those in need, letting them know they don’t have to face this problem alone and inspiring them to reach out for help.”

 

Ad Council research shows that many homeowners are juggling their finances each month in order to pay their mortgage. They may fall behind on other bills, work two jobs, and find ways to fix things around the house themselves in order to make ends meet. Even if these struggling American homeowners are not behind on their mortgage payments, they could still reach out for help from Making Home Affordable. With that in mind, Chicago-based advertising agency Schafer Condon Carter (SCC) created pro bono the new TV, print, radio, outdoor and digital PSAs to strongly encourage homeowners not to give up hope and remind them that there are free resources available to help.

 

"This new campaign will broaden the reach of MHA and extend the message of its benefits to more Americans who are struggling every day to meet the financial demands of their mortgages," said David Selby, President and Managing Partner of SCC. "The advertising seeks to resonate with these homeowners by acknowledging the  commitment they make to  keep their homes while letting them know that there is additional help available."

 

Indeed struggling homeowners should broaden their knowledge to prevent foreclosure of their properties. They can also use virtual tour technologies to complement their knowledge. Realbiz Media Group, Inc. (OTCQB: RBIZ)develops proprietary video marketing software that agents and their brokers can use to promote their virtual tour listings online. The company offers a Virtual Tour Program that allows real estate sellers to create virtual tours and presentationsthat are optimized for mobile viewing and could be syndicated through social media for only $29.95 a month.

 

Adding a person to a virtual tour or listing photo may seem like a novel idea for real estate agents.  But it isn’t a bad idea at all, when properly executed and maybe agents using disruptive marketing technologies from Realbiz Media would like to take some cues from the ad campaign.

 

Realbiz Media Group, Inc. (OTCQB: RBIZ) develops proprietary video marketing software that agents and their brokers can use to promote their virtual tour listings online. The company offers a Virtual Tour Program that allows real estate sellers to create virtual tours and presentationsthat are optimized for mobile viewing and could be syndicated through social media for only $29.95 a month.

 

The program is equipped with a video search engine optimization (VSEO) tool that automatically generate meta tags and descriptions for virtual tours and listings agents have uploaded to the platform so that they would be found easily by consumers online.

 

The program also has tools for creating QR codes, e-flyers, and seller reports as bonus features.

To learn more about Realbiz Media and its products, contact sales@realbizmediagroup.comor call 1.888.REAL.BIZ (888.732.5249).

 

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

 

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