Bill Metzker

In summer of 2009, I set up the Mortgage Rescue Cafe to help people avoid foreclosure.  We have a unique approach, in that it's a consulancy with a fee-based compensation model instead of a commission-based one.

The reasons were immediately obvious. To avoid foreclosure, home owners have several options--loan modification or workout, forbearance, and others--yet agents could receive compensation only by selling the home.

What if it's not in the owner's best interests to sell? Furthermore, might there be a perception that an agent is pushing a short sale when other measures are more appropriate, since that's the only way he or she would be compensated?

My per-hour fee is the same, whether it's for loan modification help or a short sale. If the client doesn't want to pay upfront for the short sale, I refer it out and take fee compensation from the agent I refer to.