Most mortgage contracts I know has no penalty when you sell the house provided you will port it to the next property - meaning you are carrying the current mortgage to the new house. Ask you mortgage professional how this is done.

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I have a 2yr prepayment penalty and we did 100% financing when we bought the house. my husband commutes over 50 miles oneway to work and i am looking for work and his paycheck barely pays the mortgage and we don't have enough left over for the other bills. should we sell the house or rent it out. our mortgage payment is $4100/month we have a 5br 4ba house with 3300sqft.

Sell it.You will not be able to afford the taxes at the end of the year.

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My friend has an interest only mortgage with four years left on it but has been told by the bank that there will be a shortfall of between 3 and 7k at then end of it. question is, she wants to sell it within the next 12 months so is it possible? i'm guessing that the proceeds from the sale of the house will clear up any repayments due with the bank but are there penalties involved and if so, roughly what are they price wise? they just want a quick easy, hassle free sale (if that's possible these days lol) thanks in advance for any help :)

Not possible to answer the question without knowing the terms of the mortgage. You need to talk to the mortgage lender or check the policy yourself.

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So, ive got some extra money per month. i think. what would be best to do with the money from these 3? raise my 401k a percentage or two? pay off an extra $100-200 on my mortgage every month? a house im 50k under on and have about 23 months left on the mortgage at 5.5% interest. or buy $600 of my company stock each month, then sell it immediately? my company matches 20% when i purchase it with no penalty for selling it. adding an extra 100-200 on my mortgage would equate to at least one extra mortgage payment a year, if that helps any. possibly two. really good info so far. more details. i don't have any savings, for the most part. if i went with the selling stock plan, not sure what i would do with the extra $100 a month from that. im not close to paying off the house. i bought it at 150, its now worth around 100. my payment on that per month is 1000, more or less. i'd love to get out of that place.

Did I read this right? 23 months left on your mortgage? If you are really working hard to pay off your house then that would probably give you the best peace of mind. Financially it might not be the best move because it will give you a lot of money doing next to nothing for you. I wouldn't increase my 401k contributions if I were you. You should contribute up to the company match. Also make use of a Roth 401k if it is available to you. As for the company stock, that sounds like a real opportunity. There is next to no risk if you sell it right away and lock in the gains from the company. The key here is account for the taxes which will take some discipline on your part. Also, what will you do with the extra money after you sell the company stock?