Sometimes when you see a doctor about a particular ailment, the diagnosis and treatment you receive depend on the doctor you see. Visit your family doctor about back pain, and she's likely to prescribe a pain reliever and perhaps a muscle relaxant or anti-inflammatory medication. Consult a chiropractor, and he schedules you for adjustments. A psychiatrist may think your back pain has something to do with your repressed childhood memories. A neurologist may trace the problem back to a pinched nerve. The same thing seems to happen when homeowners in default consult experts for advice:

• Real estate agents may recommend selling the home or doing a short sale.

• Mortgage brokers are more likely to recommend refinancing or a short-refi.

• Bankruptcy attorneys are more likely to recommend filing for bankruptcy, especially if the homeowners have a lot of unsecured debt (such as credit card debt).

• Loan modification specialists will recommend a loan modification for anyone who qualifies.

• Lenders may offer some sort of forbearance agreement followed by a re-payment plan to catch up on missed payments.

• Credit counselors may encourage homeowners to consolidate their debt and budget more carefully.

• Real estate investors may step in to purchase the home before, at, or after the auction and then sell it back to the homeowners with a lease-option agreement or land contract.

• Authors of foreclosure self-defense books are likely to recommend that homeowners buy their books and pursue options on their own.

• Radical consumer advocates (perhaps friends and relatives) may recommend that the homeowners stop making payments and refuse to move out or simply abandon the property and mail the keys to the lender... or not.

The point here is this: When distressed homeowners approach you to request assistance, encourage them to explore all of their options and get second, third, or even fourth opinions before choosing a course of action. Homeowners need to assess their situation honestly, figure out what they really want, determine which options they can reasonably pursue, and develop an understanding of what each option means for them in the long term. Every situation is different. For many homeowners, the best option will be to seek a loan modification with their current lender. Others would be more qualified and better off refinancing. Some would fare better declaring bankruptcy or selling a home they really cannot afford to keep.

As a real estate professional, one of the most valuable services you can offer distressed homeowners is to refer them to other specialists in the field who are best qualified to serve their unique needs. Sometimes, this means you get their business. Other times, you may lose a particular client's business for the time being. In the long run, however, you build credibility and trust, which always pays dividends. I encourage you to study up on the various foreclosure alternatives and then build a referral network that can assist distressed homeowners in their time of need, whatever their needs may be.

Ralph R. Roberts is a consumer advocate, spokesperson for Federal Loan Modification Law Center, host of KeepMyHouse.com, and author of numerous books, including Foreclosure Self-Defense For Dummies and Loan Modification For Dummies (Summer, 2009). Ralph is based in Sterling Heights, Michigan and can be reached at RalphRoberts@RalphRoberts.com.