If this prepayment penalty is written into the contract, no way
can you get out of it. Usually, though, the prepayment penalties
last about 3 years. At the end of the 3 years, the prepayment
penalty will be gone. Also, some companies will forgive the
prepayment penalty, if you get your new mortgage through them if
you are selling your current house and buying another house.
Prepayment penalties are usually for paying off the loan, or paying
big amounts back on the loan. Your contact will specify what the
prepayment is for.