Key Questions:

1. How at risk is Chemung, New York to the subprime mortgage crisis?
   1. Loans taken out by home owners in Chemung, New York are within a +/- 10 percent band of the national average. That is to say, Chemung, New York will likely be affected by the subprime mortgage crisis just like the average county in the US.
2. How stretched will home owners in Chemung, New York be in paying off their mortgage?
   1. Homeowners in Chemung, New York borrowed an average of 1.06 times their annual income for their mortgage. This compares to 1.83 for all of the US. Based on the national average, a significantly lower risk that Chemung, New York homeowners will default on their mortgage payments in the coming years.
3. Who are the leading lenders in Chemung, New York?
   1. The leading lenders, by market share, are Beneficial Company Llc, Chemung Canal Trust Company and Elmira Savings Bank Fsb. Do you have the best rate possible? Get quotes from mortgage lenders.
4. How likely are the owners of homes in Chemung, New York to actually live in them?
   1. 90.9% of home owners in Chemung, New York that applied for a mortgage in 2006 live in their homes versus owning them as an investment property. This compares to the national average of 89.0%.