OK so I figured it out myself!! I figured I'd post my solution so if others have my problem, they can fix it too. Guess the only real way to learn about your phone is to **bleep** around with it long enough and try to click on everything you can. Thats what I did and Voila!
So when on a friends page, there should be the "F" Facebook symbol in the upper left corner... hold that down. It should take you to your news feed. From the news feed, press the phone's Menu button (second from left at the bottom) and this should give you the option to go to your home page, where pressing Menu again will give you the option to "Log Out" or "Settings"! Hope this helps, if anyone else has the issue I had...