Short sale vs. loan mod showdown

Home Sale Hindsight
Published on Jan 22, 2010

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by CareyBot

Q: I listed my home for sale as a short sale, and it's been on the market for a few weeks. My agent is great, and I really like her. My bank just sent me a letter offering me a loan modification, and I'd really like to keep the house instead of selling it. I think I might be able to afford it now. I wish I hadn't listed it now, because I know she's gone to a lot of trouble to put it on the market, hold open houses, etc. Is there any way for me to get out of my listing agreement with her? Do you have any suggestions for having my conversation with her?

A: I have one primary suggestion: Relax. If you say to your agent what you just said to me, she'll probably be happy to continue supporting your path, especially if you let her know how much you appreciate her work and that y