‘A WAY TO BE PROACTIVE': Rodney Elkins can help navigate the tricky waters of a short sale

Navigating through a short sale is like whitewater rafting on the Colorado River, but Certified Distressed Property Expert Rodney Elkins is here to help you find your way.

“There are many curves and unexpected obstacles that can be devastating,” said Elkins, an agent with Destinctive Realty. “Often the emotional and financial waves can be intimidating and feel overwhelming.”

That’s why it’s important to hire an experienced guide — one who knows the waters, knows how to get you safely to your destination and knows how to avoid the unexpected — and that’s where Elkins comes in. As an experienced agent in distressed properties, Elkins has a proven track record of successfully closing short sales.

For Elkins, the idea of homeowners going through a foreclosure is frustrating because for many, he says it’s an avoidable situation. In Florida, Elkins would estimate perhaps as much as 70 percent of the real estate closings that have occurred this year have been either short sales or foreclosures.

“When you open up the newspaper and see all the foreclosure notices in the legal section, it drives me nuts,” he said. “It’s unfortunate and unnecessary. It's usually avoidable, but people just need the right information and I am here to help them.”

In the short sale process, homeowners with a financial hardship can often sell their home for less than owed; frequently without a deficiency judgment for the difference owed; and in some cases may borrow money to purchase another home in just over a year, depending on their situation. The short sale not only allows the seller to move on with “dignity,” but it also saves the bank money, due to the home being sold through a traditional closing rather than a court-ordered foreclosure; and the home staying continually occupied.

While the short sale will still have a negative impact on your credit, it will not stay on your credit report like a foreclosure, which can haunt someone for seven years or longer.

“Short sales are a way for the homeowner to be proactive in the process,” Elkins said. “It’s to everyone’s advantage to go this route, instead of foreclosure.”

Partnering with Bank of America, Elkins is part of a trial pilot program in Florida where homeowners who are currently delinquent on their mortgages, but have not yet received an offer for a short sale, may be eligible to receive anywhere between $5,000 and $20,000 upon the successful short sale closing of their property with Bank of America.

“The banks are helping homeowners transition — this gives them some money to move into the next part of their life.” 

Homeowners who have a mortgage with other lenders may still qualify for a $3,000 moving allowance through another program.

For more information on Bank of America’s pilot program and the short sale process, Elkins can be reached at 850-225-7000 or by email at RodneyElkins@cox.net. You can also visit www.helpmeshortsellmyhome.com for more information on the short sale process.

While the short sale process might be intimidating and leave some people feeling ashamed, Elkins tells people to remember that life is like a book.

“This is just one chapter — in a book not every chapter is always exciting,” he said. “This is a chapter in your life that’s not necessarily a happy chapter, but you have the ability now to start fresh and begin a new chapter; and you alone get to determine how the story ends.”