There is the saying, if someting seems to good to be true, it might just be. There are many scam artists out there waiting for the unsuspecting individuals...both REALTORS and homeowners. They come in many variations: Trainers, Loan Modification Experts, Short Sale Lead Expert, you name it. Just remember, you are REALTORS. Do not team up with anyone who promises the stars in the sky! They are crooks. They are hoping that you will team up with them to ripoff homeowners.
For those homeowners who get into trouble, and many of you will, your first order of business should be to call your lender. The Feds do have Housing Counselors to assist you, but one program called the HOPE Program has not been very productive. Hopefully the incoming OBAMA administration will provide the impetus to stabilize the market, and eventually save the housing sector.
If I can impart one thing on homeowners, it would be that you do not sign over your home to anyone, unless you understand what's going on. If you are approached by a REALTOR, make sure that he/she provides you with more options than just short sale. Short sale should be the last resort, short of foreclosure.