Hi

My daughter has a 2001 Elantra with 200k miles on it-she had the CEL read and it came back with a code of P1502(Wheel speed sensor system, short or something)-I located the wheel sensor by the backing plate on the right hand side of the car, it is broken off concave in the hole, any ideas how to remove and replace. Also, wire is cut off by the previous owner due to RT frount wheel accident (I have replaced bearing, and wheel hub already as well as the lower ball joint so it is totally rebuilt) I also had the CV joint/axle inspected by a front-end spst all OK-my question is are there any problems associated with having a malfunctioning wheel speed sensor-any vehicle behaviors I should be aware off-can any permanent damage occur? I will replace it but the re-building of the front wheel sent me back a few $'s-I would like to wait 1-2 moths if I can to replenish funds.

Thanks ahead of time for any advice