Hey Bridget,
I agree w/ Snapple that you need to consult an attorney. You have to be very careful in who you choose for a real estate agent as many pose as experienced in short sales, but aren't necessarily. The traditional real estate market is dead so agents are all now trying to make a buck anywhere than can. They are all now saying they are loan modification experts, short sale experts, home stagers, foreclosure, experts, your best friend (!), etc. IF you choose an agent vs. attorney, ask them for stats re how many short sales they have CLOSED successfully (w/ full release of all liability), not just handled. Personally, I would go with a real estate attorney who is also a real estate broker. The lender pays for it so you might as well go w/ the higher level of service (legal). I consulted a great one in so cal who was not pleased w/ how local real estate agents were handling short sales with their clients. He felt many agents were giving (incorrect) legal advice they had no business giving, and he stressed the importance of getting full release of all liability the right way (as you are seeking). Many agents have no clue what they are talking about (IMO). Many of them contributed to the mess many of us are in too. I'd rather an atty get the $$$$ than an agent
. And (like Snapple) I'm not a big fan of attys necessarily. I just dislike real estate agents more
. AND, a good lawyer is worth it. In the future, I won't sneeze w/out consulting a lawyer first
. Good luck.