What's in your best interest is to resolve this matter quickly and fairly. If the broker is looking for reasonable costs and conditions given the circumstances, then the broker's offer may be your optimum choice.

Question: What ethical guidelines are important to follow in dealing with first-time buyers?

Answer: The matter of ethics and morals is open to a wide range of opinions and actions. The view here, a personal one, is that professionals in real estate (and other fields) must be responsive to a diversity of clients and customers. In the case of first-time purchasers one must consider such issues as buyer experience and financial sophistication -- given individuals may require additional time from professionals to understand how the marketplace works, buyer representation or the services of an attorney, the use of a structural inspector and information from several lenders.

Question: Can a borrower re-pay a 30-year mortgage without using a bi-weekly repayment schedule?

Answer: Yes -- assuming that the loan can be repaid in whole or in part at any time and without penalty. Here's an example:

A $100,000 loan at 6 percent interest and a 30-year term requires monthly payments for principal and interest of $599.55. To pay off the loan in eight years, increase the monthly P&I payment to $1,314.15. You can calculate other repayment periods with a financial calculator and such calculators are often found online.

Notice that you do not need a third-party to create such a program and you don't have to pay an additional fee to anyone -- just see if your loan allows prepayments without penalty. Speak with your lender for specifics.

Question: I have tenants who moved in on a 1-year lease and are now going to separate. One is moving out and the other wants to stay. Can I remove one name from the lease and just keep the lease in the name of remaining tenant?

Answer: A lease is a contract between a property owner and one or more tenants. In a typical lease, when there is more than one tenant, all are fully responsible for fulfilling all lease terms. Thus, both tenants are obligated to perform under the lease agreement -- even if they have a falling out.

In your situation, the best approach might be to mutually agree in writing with both tenants to end the current lease and return their deposit. Then create a new lease with a new deposit with the remaining tenant. This would get you a new lease, no vacancy, remove the separated tenant from both the property and the paperwork and assure that the existing deposit is properly returned.

Please check to see if you have rent control rules in your community and, if so, how they might impact your arrangement in terms of notices, rates and such. As well, change the locks for the security of the remaining tenant.

Have a real estate question? Send your inquiry to . Because of the volume of mail received, Mr. Miller cannot respond to questions individually or privately. Published letters may be edited for space and style. For comments regarding other Realty Times articles, please contact individual authors by pressing here.

This column is designed to provide accurate and authoritative information in regard to the subject matter covered. It is made available with the understanding that neither the author nor the publisher is engaged in rendering legal, accounting, or other professional services. If legal services or other expert assistance is required, the services of a competent professional person should be sought.