The Secretary of Housing and Urban Development (HUD) and the state attorney general who handled much of the negotiation leading to last spring's $25 billion settlement with mortgage servicers rolled out its first high visibility outcome on Thursday.  Secretary Shaun Donovan and Iowa AG Tom Miller previewed a new public service advertising (PSA) campaign aimed at informing delinquent and underwater homeowners about help that may be available from the cash settlement.   

The campaign has three components, 30 second television and radio spots, a new website, and a Mortgage Assistance Guide.  The ad, which can be viewed through the site or below, is short and unburdened with details.  It merely informs homeowners of the possibility of assistance and directs them to resources made possible by the settlement.  The radio version of the ad is also available in Spanish.  

"The National Mortgage Servicing Settlement represents the single largest-scale principal reduction effort we've seen since this housing crisis began and the PSAs and online tools announced today will create an extended opportunity for homeowners, across the country, to gain  access to information, options and opportunities that could help to keep them in their homes," said HUD Secretary Shaun Donovan. "Already the servicing settlement is helping homeowners and making a difference, and our goal is to ensure every eligible family is aware of the help it provides." 

 "If we learned anything from the housing crisis, it is that that there is no one solution," said Iowa Attorney General Tom Miller. "We want homeowners to know the possibilities that they have with this settlement. PSAs are already running in Iowa and we're hopeful that information shared helps people in a substantial way."