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My Profile Top News Reuters top ten news stories delivered to your inbox each day. Subscribe You are here: Home > News > Entertainment > Article Home Business & Finance News U.S. Politics International Technology Entertainment Film Music People Television Arts Industry Sports Lifestyle Oddly Enough Environment Health Science Special Coverage Video Pictures Your View The Great Debate Blogs Weather Reader Feedback Do More With Reuters RSS Widgets Mobile Podcasts Newsletters Your View Make Reuters My Homepage Partner Services CareerBuilder Affiliate Network Professional Products Support (Customer Zone) Reuters Media Financial Products About Thomson Reuters Fed takes mortgage act to movie theaters Wed Apr 1, 2009 3:24pm EDT Email | Print | Share | Reprints | Single Page [-] Text [+] WASHINGTON (Reuters) - Superheroes aren't the only ones saving the day in movie theaters. This month, the Federal Reserve aims to help struggling homeowners by placing advertisements in theaters telling people how to avoid mortgage scams. "The purpose...is to reach out to an audience that the Fed has possibly not reached before, to try and get people's attention about mortgage scams and direct them to our website where we have tips for people to avoid these scams," said Sandra Braunstein, director of the Fed's Division of Consumer and Community Affairs. The Fed's ads will be tucked-in amid movie previews in 28 theaters in 14 cities in Arizona, California, Georgia, Florida, Michigan, Nevada and Ohio, starting April 10. "We think by targeting markets with high foreclosure activity, we'll reach people who may not think about going to our website (federalreserve.gov)," Braunstein said. The mortgage market meltdown has caused scam artists to prey on struggling homeowners with fake promises of easy refinancing. Victims often end up paying thousands of dollars in fees but receive little or no services. Some ultimately lose their homes to foreclosure, according to law enforcement officials. This is the first time the Fed has put a consumer awareness ad in movie theaters, and the agency will be looking at hits on its website to gauge its effectiveness. "At this point we're not sure about results but we thought it was an innovative way to try and reach people to tell them about these resources, so we decided to give it a try." Braunstein said. Superman would likely approve. (Reporting by Nancy Waitz; Editing by Bob Tourtellotte) © Thomson Reuters 2009 All rights reserved Share: Del.icio.us Digg Mixx Yahoo! 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