NEW YOKR STATE -- "To know that you tried to have this American dream and now it's a nightmare and that you have nothing to leave your kids, it's just really difficult," said LaKishia Martin, Schenectady resident.

A single mother of four school-aged children, Martin thought she was doing the right thing by listening to her mortgage broker and changed her mortgage package last minute, on closing day, to an adjustable rate mortgage.

"Here I am thinking I have this broker and this attorney who are working in my best interest and apparently they weren't. No one explained to me that it was an adjustable rate mortgage, or that in a couple of years I'm going to have a problem," Martin said.

It’s a problem that altered the lives of many New Yorkers. Mortgage fraud and predatory lending are both major catalysts to the country and state's mortgage crisis and major issues lawmakers are trying to tackle through legislation.

Last week, the Assembly passed a bill seeking to help those like Martin, struggling in the subprime lending crisis, by granting a one-year moratorium on foreclosures. On Monday, the Senate Banks Committee explored the governor's bill that aims to tackle the crisis through stricter guidelines on risky loans, regulation of mortgage brokers, home owner education and protection against mortgage fraud.

"The legislation addresses it on a number of fronts, particularly by making mortgage fraud a specific crime," said Richard Neiman, NYS Banks Superintendent.

Something homeowner advocacy groups think is long overdue.

"People need to be more responsible for themselves and we're not suggesting otherwise. The problem is a lot of these loans were packaged to look affordable to people, loans that were designed for savvy investors,” said Sarah Ludwig, who is with New Yorkers for Responsible Lending.

But not everyone agrees with the legislation. Some say it's too broad.

"It will increase costs on one end and also restrict credit on the other end," said Michael Smith, President and CEO of the New York Bankers Association.

Martin says for her and others like her, right now, it's just about making ends meet and they need all the help they can get.

"I think it's really sad, that they don't realize there are real victims out here,” Martin said. “There are those of us who could get a notice of sale tomorrow. We don't know."

Next, the Senate Banks Committee has to vote on the governor's bill. Right now it does not include a foreclosure moratorium like the Assembly's bill, but a spokesperson for the committee chair says there may be some amendments to it.