Recently, Trustco has found many customers concerned with the real estate market have been electing to renovate their existing home, or perhaps put on an addition instead of purchasing a new home. The bank has long been a major lender for these types of projects, and offers a number of different options for second mortgage loans or lines of credit.
Trustco’s long term focus on traditional mortgages has proven to be a winning strategy for the bank, and for its customers. The bank has continued to report profits during the economic turmoil of recent years, while many of the companies that pushed more aggressive mortgage products have failed, or been bailed out by taxpayers.
The focus on its core business, along with a solid capital base and strong liquidity has allowed the bank to continue to provide mortgage loans when many other lenders disappeared.
Trustco expects 2012 to be another strong year as a leading mortgage source in the Hudson Valley and Capital Region.