Dear Friend:

Throughout the country, an increasing number of individuals and families are facing the threat of losing their homes as a result of the subprime mortgage crisis.

These people were sold a bill of goods that they couldn't afford and had their dream of owning a home turn into a nightmare.

I recently joined the Long Island Republican Delegation and the New York State Banking  Department in sponsoring "Operation Protect Your Home" for Long Island residents. In addition to new consumer protection laws enacted this year and the awarding of state grants to help protect homeowners suffering through this crisis, "Operation Protect Your Home" provides an opportunity for homeowners to meet face-to-face with their lender to discuss possible alternatives to foreclosure.

The State Banking Department may be helpful to you or someone you know who may be having trouble affording mortgage payments or is facing foreclosure. If you have questions about your mortgage or would like to file a complaint against your financial institution, you can contact the New York State Banking Department's Consumer Helpline at 1-877-BANK-NYS (1-877-226-5697).

You may also visit my web site and click on the New York State Banking Department Help for Homeowners in Foreclosure banner to learn the steps you should take if you're in foreclosure or default.

It is my hope that the information the Banking Department provides will enable people to renew their dream of home ownership.

Sincerely,
Ken LaValle
State Senator, 1st District

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