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I think it's not so much a blackout but more like it didn't actually happen the way it is presented there.

Posted By: MrFusion
Date: Tuesday, 2-Feb-2016 17:29:25
www.rumormill.news/39099

In Response To: Iceland forgives entire population its debt. Total US media blackout (RumorMail)

The major Icelandic news website is http://mbl.is, which has an English language version at http://icelandmonitor.mbl.is.

Searching there for "mortgage" or "debt relief" only turned up a few articles, the principal ones being the following, which describe only a fractional debt relief. But at least that's better than nothing, I guess:

Government announces debt relief
10 Nov 2014
Household debts will be lowered by twenty percent on average, there will be more stability and less inflation announced Prime Minister Sigmundur Davíð Gunnlaugsson and Minister of Finance Bjarni Benediktsson at a press conference today in Harpa. This is the first operation in an agenda to create a healthier environment in both the housing and financial markets according to the statement....
http://icelandmonitor.mbl.is/news/politics_and_society/2014/11/10/government_announces_debt_relief/

Wealthiest get ISK 1.5M in mortgage cuts
29 Jun 2015
Around 2% of those benefiting from government debt-relief measures in 2013 are subject to Iceland’s ‘wealth tax’, i.e. individuals with personal assets of at least ISK 75 million (approx. €500,000).
http://icelandmonitor.mbl.is/news/politics_and_society/2015/06/29/wealthiest_get_isk_1_5m_in_mortgage_cuts/

As to the inequality implied in the second article, see this angry Reddit post, which is one of a number of results I found by Googling "iceland debt relief":

EXCERPT:
"Government bailed out selective % of private mortgages, splitting the country almost in half between supporters of the action and opponents. Numbers seem to indicate a mass transferal of money from the less affluent to the more affluent. This controversial action has also spiked arguments between renters (who got nothing) and the government. Many have come forth and said they applied for the bailout but intend to use the money for something like charity because the payout was a zero sum game and if they don't apply then others simply get more of money they consider ill gotten."
https://np.reddit.com/r/europe/comments/2m9l4b/iceland_minister_of_the_interior_imposes_a_media/cm27l0o?sort=confidence

Another aspect of this is that a number of Icelandic mortgages have the unusual provision of having the principal adjusted upward for inflation, as was mentioned in an interview on NPR, so that this partial forgiveness may mainly be addressing that:

Iceland Experiments With A Jubilee Of Debt Forgiveness
Updated January 19, 2015 [date correct]
EXCERPT:
"In Iceland, a lot of people have these odd mortgages that adjust with inflation. And when the financial crisis happened, there was a lot of inflation in Iceland. Heida remembers getting these statements saying she owed more and more. And I don't mean she just owed more that month. The total amount she owed to the bank went up by 30 percent. It's, like, if you'd borrowed $100,000 for your house, all of the sudden, you owed a $130,000."

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Articles In This Thread

Iceland forgives entire population its debt. Total US media blackout
RumorMail -- Tuesday, 2-Feb-2016 15:04:36
I think it's not so much a blackout but more like it didn't actually happen the way it is presented there.
MrFusion -- Tuesday, 2-Feb-2016 17:29:25

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AN EXPLANATION OF THE FACTIONS