As a student, one thing I have noticed is that when someone posts a question on this forum, most answers from licensed agents tell the person to "go look it up, or ask your teacher!"  That is really helpful coming from so-called 'professionals.' NOT!  Perhaps it will surprise you to learn all of these questions ARE addressed in the course materials; the course then requires the student to post this question to this blog site.  So, the process is a diabolical scam because how can anyone get further insight unless the professionals give real answers instead of the equivalent of "go take a hike!"  Thus, I have concluded that either the only professionals who post here are unprofessional wise guys or unaware of the negative impression they give to those aspiring to enter the industry.  

Perhaps if you read the posts from your colleagues you may gain a new perspective on what an outsider observes!

An aspiring student

This is similar to what I ask my real estate students to answer in class. We share as a class and everyone learns from one another.

a great question to ask your licensing instructor.... do you always need to find your own answers.... what's his job!!

I start a 30 Hour Essentials of Real Estate Financing class Tuesday morning in Malvern , PA . You're welcome to sign up  610- 560 - 4800

Each loan has different terms and conditions so reference to the contract should be made as well as discussions with the lender.

This is the stuff of an entire post.... here's my suggestion.... do the research and write a post about it and we will all read and comment on it. Or read a text book and get your answer.

Make 360 payments on time.

or

Sell the property.

If you don't know this I sure hope you are not working with real estate clients. Take a quality mortgage banker to lunch, daily.

Haha Barbara Todaro raises a good point === this is way too much info to provide in this forum - there is shorter terms, extra principal, bi-weekly, interest-only, longer terms, NegAm, and more....explaining the amortization for all of them could fill a short book.

Each loan has different terms and conditions so describing each one and how they can be paid off would be a VERY long blog let alone an answer lol

thats a big question Abby.

talk to your mortgage professional

This is a good question to ask a lender or mortgage broker.

Make your payments and make them on time or lose the property. 

Check, cash, cashiers check, wire transfer.

Make timely payments as per the document. Want to pay it faster, add money to the monthly payment to reduce principal!

Follow the terms of the agreement.

Barbara Todaro nailed this one!

I'm with Marc Swartz, CPA, CA, Real Estate Broker  on this one.

No thank you!

I would Google that - there are many different options.  And, I too, agree with Barbara Todaro - why doesn't your insructor teach you these things?

Talk to a lender