The Mortgage Free in Three - Take 2 challenge (MFiT-T2)

twinklie

I got my annual paper statement through as well. I had a mortgage that was due to end in 2024. I had reduced it down to Jan 2019....and now it's down to May 2018!!! :j

Also, it looks as though I should easily beat my target of getting under 29K and actually end up round the 25K mark instead by the end of the challenge. Woo hoo! :j

brizzledfw

Don't be sorry Taxi - thats still a fab goal and if you can be mortgage free ish anyway by end of 2012.. well thats amazing

miss_undastood

Taxi why don't you change your target slightly to reflect your change in circumstances?
Maybe clear all but 10k of your mortgage in 3 years would be more feasible for you?

Double_Trouble

Taxi don't leave if you don't want to feel that you are behind add all your debts and mortgage together and set that as a new opening figure and make your reduction on the debt as a whole rather than just the mortgage - that is what I have done as I will probably be well into the second year before I actually start mortgage overpayments.

DTxx

taxi73

Think I'll have to have a think of how to handle this as I don't want to leave as I should make big inroads after the 1sr year and I really like the challenge.

mortgagenomore_2

Hi Taxi, i am slight same position as you with approx £14k on credit cards to clear yet i am putting most of mine into the mortgage to bring down whilst the interest rate is so low, but i try to do both but i know what you mean i am thinking one cc with £1600 on it to concentrate clearing that then more to mortgage then to other cc currently at 0% with £7000k, it is difficult but i think that even though we put in a quarterly figure its fine if not on target anything is better than nothing, and as other poster above said would be a shame for you to leave now!

setmefree2

twinklie wrote: »

I got my annual paper statement through as well. I had a mortgage that was due to end in 2024. I had reduced it down to Jan 2019....and now it's down to May 2018!!! :j

Also, it looks as though I should easily beat my target of getting under 29K and actually end up round the 25K mark instead by the end of the challenge. Woo hoo! :j

Well done on that :T:T:T:T

setmefree2

Hi mortgagenomore,

What is the interest rate on your CCs?

smf2

unhappy_shopper

#77 reporting

Outstanding balance is now £45425. Yippee!

abouttimetoo

Hi all

I got my mortgage statement this morning :j I've not had time to peruse it properly yet but will do so later.

I've also made an OP of £800 today

Hope you are all doing well with your plans