I never thought going to the movies would educate me about mortgage scams but I guess I never thought we would be in the foreclosure mess we are in. In an effort to educate movie audiences about foreclosure rescue scams, the Federal Reserve will begin running the PSAs before movie previews starting April 9th, the Wall Street Journal reports.
“People who are facing foreclosure are stressed enough,” Sandra Braunstein, director of the Fed’s Division of Consumer and Community Affairs, told the Journal. “The last thing you need to do in a situation like that is put out a couple thousand dollars. There are people out there who can help and do not charge.”
The 30-second segment will not feature any Federal employees and will be very simple in design. The PSA will feature text, an audio voiceover and still photos of individuals and families with an opening line: “Are you facing foreclosure?” And the finale: “It shouldn’t hurt to get help!” The closing piece of the PSA will direct the audience to obtain tips and information via the central bank’s website.
The Fed’s campaign will initially be rolled out in 14 cities covering seven states that have been hit hardest by the foreclosure crisis including Arizona, California, Georgia, Florida, Michigan, Nevada and Ohio. Produced by National CineMedia, the PSAs will cost the Fed approximately $9,000 for production and placement in movie theaters.




