DOB: AG, DOB Public Service Announcements Help Distressed Homeowners

{Newspaper} NEWS RELEASE

Attorney General, Banking Commissioner Issue Public Service Announcements to Help Distressed Homeowners

This news release was issued jointly with the Attorney General's Office

October 9, 2012

Attorney General George Jepsen and state Banking Commissioner Howard F. Pitkin have issued public service announcements aimed at helping distressed homeowners in Connecticut who are having trouble with their mortgages.

The 30-second audio and video spots, recorded in both English and Spanish, were distributed to Connecticut broadcasters and are expected to begin airing, free of charge, as early as this month. The videos can be viewed on the YouTube link on the Attorney General’s website. The radio spots are under the “joint federal-state foreclosure settlement” button on the Attorney General’s website.

“The national mortgage foreclosure settlement with the five largest loan servicing companies has made an estimated $119 million in direct benefits available to homeowners in need of loan modifications, principal reductions and other assistance,” Attorney General Jepsen said. “As part of the settlement, a national public service announcement was developed and we were able to customize the message for Connecticut residents.”

Commissioner Pitkin said, “The radio and television public service announcements direct borrowers to the state Department of Banking website, and to the toll-free foreclosure prevention hotline, 1-877-472-8313, for answers to their questions and help with their loans. We would like to get the word out to all Connecticut residents who may need this help.”

The Attorney General and Commissioner Pitkin thanked Connecticut broadcast and cable stations for donating the time to air the announcements. They also recognized the Connecticut Broadcasters Association and its president, Michael Rice, for their help in this effort.

The radio and video announcements both say:

Are you a homeowner who’s facing mortgage trouble? A government settlement with the nation’s biggest mortgage servicers provides help and hope for many people fighting to save their homes from foreclosure. If you’re behind on your home loan, or your mortgage is under water, call your mortgage servicer—that’s who handles your mortgage. See if this settlement affects you and if maybe there’s other help available. Or in Connecticut, call 1-877-472-8313. This Public Service Announcement is sponsored by Attorney General George Jepsen, the state Department of Banking and this station.

The video also shows a series of families dealing with problems and closes with visual display of  the Department of Banking website link http://www.ct.gov/dob and the Connecticut Foreclosure Assistance Hotline 1-877-472-8313.

The announcements were produced by Strategic America of West Des Moines, Iowa, as part of a national campaign to publicize the $25 billion national mortgage foreclosure settlement. In February, the federal government and 49 states announced the settlement agreement with Bank of America Corp., JPMorgan Chase & Co., Wells Fargo & Company, Citigroup Inc., and Ally Financial Inc. (formerly GMAC). It took effect in April.