How to sell a coop with a 30 year mortgage?
I want to buy a $ 150,000 coop, put $ 50,000 down payment and get a 30 years mortgage loan for the rest of the amount.
If in 5 years I decide I don’t want it anymore, can I sell it or do I have to pay off the mortgage before selling it???
If I want to pay the mortgage loan in faster, does the interest gets recalculated or do I have to pay the loan and its interest for the whole 30 years???