Major Alert: Natural Gas Leasing Impacts on Mortgage Lending

Greetings,

I am pleased to alert you to a letter that I wrote to Governor Cuomo yesterday. As you will see, I provided him with two key documents that reveal New York bankers are highly concerned about natural gas leasing impacts on mortgage lending.

Due to current lending policies and practices, properties with gas leases might not quality for mortgage loans. Properties might not quality for mortgage loans even if properties with gas leases are located within 200 feet.

Suffice it to say, this issue could have devastating economic effects on homeowners, real estate investors, financial institutions and Wall Street.

Key sections are highlighted to help you wade through the banking jargon and my equally dense prose.

It is more important than ever to ask your Legislators to become signatories to Assemblywoman Lifton's letter to Governor Cuomo requesting that the scope of the SGEIS be expanded. Use the form letter below.

Finally, we are barely short of 5,000 signatories to the coalition letter that asked Governor Cuomo to expand the scope of the SGEIS. Please beat the bushes to help us reach that goal.

Hold onto your hats. The mortgage loan issue could really pack a wallop. I will keep you apprised.

Best,

Walter

Click to read Letter to Governor Cuomo