More homeowners than ever are struggling to keep their homes in spite of missed payments and looming foreclosures. As a Realtor, there are some steps you can take to help your clients fight foreclosure and stay in their homes, through a variety of means.
 
One such suggestion you can make is a loan modification. This may an especially good suggestion for you to make since it is likely that you have some established contacts in the mortgage industry and can help the homeowners to navigate through the sticky process of a loan modification. When suggesting a loan modification for your customers, be sure that you understand exactly what a loan modification is and how the process works. A loan modification occurs when the terms of the original mortgage are renegotiated to allow the homeowner some relief from high monthly payments. One of the best things you can do to offer assistance is manage the expectations of your clients.

This is particularly poignant as many Realtors don't stay involved in the lives of homeowners once they've closed the deal. However, you may just be one of the best resources your clients can have because of the vast number of resources you have in your stable to help them in restructuring mortgages.

You can manage the expectations of your clients by making sure they understand the rigorous process of loan modification and the amount of paperwork involved. In fact, you could offer the option of retaining you to walk them through the process and assist them in the negotiation process. After all, it usually helps the homeowner to have a mortgage expert advising them on the loan modification process.