Loan mod may be better than selling

Tactic gives owners time to recoup market value

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DEAR BERNICE: I need some advice to know what to price my home at when we do sell. We got an appraisal on our property and it said we lost more than $100,000 in value. Is there any way to sell it for what we paid for it? My husband thinks if we refinance our home we could sell it for what we paid for it originally. Is that true? –Rachel D.

DEAR RACHEL: The price you paid for your property has no bearing on what it is worth right now. A good analogy is the stock market. If I paid $100 for IBM stock and today it’s selling at $60, I would have to settle for $60 a share if I wanted to sell today.