Agent Referral Network Program

Step One:

A Homeowner seeking a loan modification is referred to RESCUE by a Certified Real Estate Professional utilizing the RESCUE technology portal. With the permission of the homeowner, the file is tagged with the Real Estate Professional’s name which will enable HomeStrongUSA and the homeowner to have an additional advocate help in obtaining needed documentation.

Step Two:

The documentation is then forwarded through the portal to HomeStrong USA. HomeStrong USA then processes the loan modification at “NO COST” to the homeowner and sends the loan modification documents onto the homeowners servicing company for approval or denial.

Step Three:

In the event the modification is approved, the homeowner is overjoyed, the Certified Real Estate Professional will most likely have a client for life and will probably receive a multitude of referrals for helping the homeowner obtain a loan modification.

Step Four:

In the event the modification is denied, the homeowner will then be contacted by RESCUE or HomeStrongUSA to help explain alternative options to foreclosure, such as short sale, cash for keys, deed in lieu and possibly foreclosure.

Step Five:

In the event it is in the best interest and at the homeowner direction, a RESCUE or HomeStrongUSA counselor will notify the Certified Real Estate Professional to secure a short sale listing and sell the property.

Related Fees

Fortunately, there are no fees being charged to the homeowner by either of Non Profit Organizations, RESCUE and/or HomeStrong USA. However, RESCUE does charge an outsourcing and doc processing fee to RESCUE’s Certified Agents that receive referrals. Therefore, the following is a breakdown of these fees being charged to handle the processing of the files:

There are two basic scenarios in which a fee shall be paid to RESCUE and they are as follows:

Upon completion of RE101, a RESCUE Certified Agent shall then be qualified to refer their clients through their own personalized RESCUE portal (webpage). In the event the client is denied for a loan modification RESCUE shall provide access to the short sale documentation for a nominal fee of $99.

Upon completion of RE101 a RESCUE Certified Agent shall be eligible to receive short sale listing referrals from RESCUE of homeowners who entered the loan modification program by applying directly through RESCUE without utilizing a Real Estate Professional. A referral fee of 25% of the listing commission shall be due to J.A. Russo Enterprises Inc. Real Estate Division, upon the closing of the short sale transaction.

Example

Sales Price: $300,000.00 Listing fee: 9,000.00 (3%) NSI fee: 2,250.00