We have been particularly active in the area of educating consumers to avoid becoming victims to mortgage lending frauds and to avoid unaffordable mortgages. The Department is launching a financial education campaign throughout the state to promote consumer awareness and has provided educational materials to community groups, students, senior centers, and consumers. I've also been hitting the road, meeting with community groups from Cypress Hills, to the N.W. Bronx, to Buffalo to Troy to Syracuse to Rochester. As a Wall Street investment banker, I regularly brought market opportunities to the attention of my clients. There is a much more important market opportunity that is out there right now.
Mortgage rates are at historic lows and it is a great time to buy a home in New York State.
I am passionate about the American dream of owning your own home. For most people, buying a home is an incredibly daunting experience. It may be the single largest purchase a family or individual may make in their lifetime. Our travels around the state are aimed at pointing out the market opportunity especially to those who may not realize that they can go from renting to owning their own home. I have been walking people through our newly revamped website that provides comparison of mortgage rates by region.