Real Estate Home Mortgages/help please!!!


My best friend and i bought a house together about 4-5 years ago..and needless to say life has pulled us in different directions..i want to sell or current residence but we have not fulfilled our 30 yr loan..if we sell will this hurt my credit and are there heavy fees to pay?

No, there is no impact to your credit for selling prior to the 30 year loan- or any other term loan for that matter- being paid off early.  Very few people keep a loan for its full term anymore.  

The fees involved would be your Realtor fees if you use a Realtor and title policy fees.  While it is not likely that you have a prepayment penalty you may want to look that up in your loan documents.  Most  prepayment penalties expire after 3 years, and most loans don't have a prepayment penalty in the first place.  
About Real Estate Home Mortgages
This topic answers questions related to purchasing a home, owning a home, home ownership, mortgage education, mortgage applications, and mortgage needs whether buying a first home or refinancing a current loan. Issues related to home ownership, home equity, mortgage education, refinacing options, home improvment finacing, first time home loans, home equity loans, vactation home loans, and mortgages for investment homes are dealt with here also. Though not the primary focus of this topic, Home Equity Lines of Credits (HELOCS), reverse mortgages, and calculating home equity may also be asked. If you do not see your home mortgae, home finacing, or home equity question answered in this area then please ask a question here

Real Estate Home Mortgages

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Mark Schow


Can: reverse mortgage, mortgages of all types, debt management and settlement, foreclosure problems, real estate investment strategies. Can't: real estate law, standard banking outside mortgage and debt.


2002-2004 President of the Utah Association of Mortgage Brokers (UAMB) 2004-2008 Board member UAMB, Fraud task force chair, PR chair, Legislative chair. 2002-2005 Delegate to National Association of Mortgage Brokers, Legislative committee. 1996-2008 COO Debt Free Living- Now Debt Fast Track. Founder of company- consumer debt elimination company. 1994-2008 President Secured Financial Freedom. Mortgage broker, serviced nationwide, 120 employees and handled real estate investment loans for the Carlton Sheets group and some Rich Dad clients. 2005-2011 ARES, LLC. Owner, Manager. Private money investments, business consulting. 2011- present, Reverse My Mortgage, LLC. Managing Member. Reverse mortgage education, marketing and sales. 2011- present. Salt TV Network. Financial contributor, Sales Manager.


Publications,,,, yahoo answers, wiki answers, UAMB newsletters.

High School- Alta High graduated 1984 Brigham young University- 1986-1991 Business Finance Major

Past/Present Clients, Doreen Stein, PEI institute, Franklin Covey Coaching, Capital Financial Group, the rest are consumers- cannot give out names due to privacy but have had thousands of clients both for debt elimination and mortgage work.

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