The CS Advisory Group, a boutique mortgage firm with offices in California and New Jersey, has created a homeowner-driven program called Your Best Interest.
The program is designed to address the growing problem with foreclosures in the area. Foreclosure filings in New Jersey jumped 95% during the third quarter of this year from the same period a year ago, the company notes.
Under the Your Best Interest program, homeowners with adjustable-rate mortgages (ARMs) or option-ARMs can have the loan evaluated by the CS team to find out what index to which their current loan is tied, when it is set to adjust and what they can expect that payment to be. If they are in a good position, the team will help them understand why, and if they are in a high-risk situation, CS will explain the homeowners' choices and prepare a plan of action.
Source: CS Advisory Group