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As policymakers weigh what further steps, if any, to take to address the home mortgage crisis, the Ad Council is trying to educate consumers by running public-service advertisements about foreclosures. The ads encourage homeowners at risk of losing their homes to call 888-995-HOPE for quality counseling and financial advice.

A separate Ad Council campaign dubbed “Feed The Pig” aims to teach people ages 25 to 34 to save for every stage of life.

Here’s a look at the ads:

In the House yesterday, meanwhile, Rep. Hilda Solis, D-Calif., decried the impact of the subprime mortgage crisis on her district in Los Angeles, where a family loses a home to foreclosure every hour.

Categories: Economy, AdWatch, Banking, Culture, Housing

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Sen. Christopher Dodd, a Connecticut Democrat who is running for president, decried the increasing prevalence of “predatory” lending practices in the mortgage industry and said Congress should do something to keep more people from seeing their American dreams of home ownership turn into nightmares.

“There’s a distinction between a good, solid, sub-prime lender and a predatory lender, and we ought to put a stop to the latter without hurting the former,” Dodd said in a speech to the National Credit Union Association.

Categories: Connecticut, Sen. Christopher Dodd, Presidency 2008, Christopher Dodd, Banking

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