Key Questions:

1. Who are the leading lenders in Essex, New York?
   1. The leading lenders, by market share, are Beneficial Company Llc, Countrywide Bank, Fsb and Jpmorgan Chase Bank, Na. Do you have the best rate possible? Find out your credit score or browse
2. How stretched will home owners in Essex, New York be in paying off their mortgage?
   1. Homeowners in Essex, New York borrowed an average of 1.47 times their annual income for their mortgage. This compares to 1.97 for all of the US. Based on the national average, there will be a normal risk that Essex, New York homeowners will default on their mortgage payments in the coming years.
3. How likely are the owners of homes in Essex, New York to actually live in them?
   1. 84.3% of home owners in Essex, New York that applied for a mortgage in 2008 live in their homes versus owning them as an investment property. This compares to the national average of 90.0%.
4. How at risk is Essex, New York to the subprime mortgage crisis?
   1. Subprime loans taken out by home owners in Essex, New York were meaningful more than the national average in 2008. That is to say, Essex, New York will likely be more affected by the subprime mortgage crisis in years to come as a greater percentage of all mortgages in Essex, New York - 5.8% versus 4.8% - will reset to higher rates in 2009. This will likely trigger a higher amount of foreclosures caused by the reseting of subprime mortgages in Essex, New York than other areas of the US.