Loan Modification Help

As a REALTOR® and professional business person our duties are held to a higher a higher standard by the ‘Code of Ethics’ with that said, I would like to clarify our roles as real estate consultants.

We can offer a variety of services from working with first-time home buyers, to investors and sellers of residential or commercial properties.  There are agents who now specialize in ‘Short Sales’ and REO’s bank real estate-owned properties.  This is their niche and that’s all they do many have teams and have built a good business.

A few have moved on to the next level to include ‘Loan Modification’ for homeowners who are upside down in their loans or their property’s value has dropped below market value.  I hear this all the time on the radio and occasionally on TV agents advertising that they can help homeowners with their loan modifications some charge a fee for this as well. 

Agents are required to have a real estate broker’s license and if they work under an agency they must have the approval of their own broker or be an attorney.  To collect advanced fees they are required by the CA Department of Real Estate to get an Advanced Fee Agreement form approved by the state. And the Errors & Omission insurance policy should include a policy for foreclosure consulting services.

HUD is the U.S. Department of Housing and Urban Development and they want REALTORS® to assist in getting the word out that there is help for homeowners through the government’s program, “Keep your Home”.   You can learn more by going to: or calling 877-483-1515.

There is also another government website that has detailed information and self-assessment tools for you to evaluate if you are eligible for the new loan modification or refinance programs.  To learn more go to:

And most importantly remain in contact with your lender, gather your loan papers together, review them and stay informed.  There is hope in these tough economic times.


“If this is your kind of town…let me show you the neighborhood.”®   Live the ‘slo life’ in San Luis Obispo County.  Shirley Hulin is a full-time REALTOR® and manager for Century 21 Hometown Realty she works with a team of professionals who are ready to help you with all of your Real Estate needs in San Luis Obispo and Northern Santa Barbara Counties.  Thank you, for your referrals.

Contact Shirley at