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

unhappy_shopper

Made another overpayment. We are chipping away at our mortgage slow and steady. Outstanding mortgage debt lowers to £38,705.60. :j

Thanks to the encouragement and support from this thread.:T

Lynn11

No 46 reporting in - Can I change my target as we are moving house and increasing our mortgage to £115,500 at the beginning of June. Hopefully I can continue to overpay something and get the mortgage down to £105,000 for the end of this challenge.

Can you please update my details on the main spreadsheet. I am not making any overpayments for the months of April, May and will try to catch up in June.

Hope this is ok.

bobbybobby

Lynn11

we will probably be the same in a couple of years as once our mortgage is lower we probably will be tempted by the chance of buying somewhere bigger so good luck and you have nothing to lose!:T

taxi73

Thankyou Superfast Gran for your wise words.Nothing will be getting paid extra on the mortgage until next year as I'm paying the CC debt off and 2 loans first.
I need to sort some budgets out at the moment.

gerbiljo

I am looking forward to the next update of the chart as I am inpatient!
I think I have become a bit lost in the long month so pleased next month has 2 bank holidays as I think it will be quicker and then time to update again. It'll be excited to 1/6 of the way through as it sounds like a decent sounding chunk!

We are throwing everything at the challenge as it would be wonderful to actually become MF in 12/12/12 but its not quite mathematically possibly unless we get payrises (unlikely) as I don't think we can cut out outgoings anymore, but nevermind it will only be a few months into 2013 for us I think.

Its good to read through this thread. I think even if the overpayment is small but regular it really does save so much in the long run if u still have a long time on the mortgage to go.

Hurry up payday!!:beer:

wynnvegas

Hi All,

This month has started to see us struggle a wee bit to get to our intended target of mortgage free by 01/12/10 so not so good. A few family members needing loans and buying hotels for the upcoming Vegas trip has gotten us down to a lower level of cash on hand than I would have liked. We'll definitely make it to August at the current payment levels which will have the mortgage down to £10,500 but it's more hope than expectation that we'll hit the date we had planned...jackpot in Vegas notwithstanding....

Cheers,

Billy (#85)

Jock_Tight

wynnvegas wrote: »

A few family members needing loans and buying hotels for the upcoming Vegas trip

We normally just rent a room for a week or so, no wonder your a bit short on cash if you are buying Vegas hotels!

Are you staying at Wynn / Encore ?

shangaijimmy

Just £11 off being below 155k, and a matter of days before the end of the month. Hoping tomorrows food shop we can save the needed £11!!! Though it'll be tough coz the cupboards are really bare!!!

maz123_2

Evening folks,
I feel a bit like the prodigal child I've disappeared for sooooo long! It's a long story!
But I'm now back with alot of catching up to do. Big apologies to those to whom I owe them to, I've not had chance to read all posts but will, soon!
Just a quickie to Taxi don't drop out, we can sort something out, originally (back in the day) I wanted to MF but had to change this and now I'll be lucky to get to target, but we have to keep trying!
maz x
p.s. shangai - I feel like I want to lend you £11!

wynnvegas

Cheers for that Jock. Cheered me up no end!

We're at the Luxor for the first 12 days and the Bellagio for the next 10 (her doing as I'd have had Encore over the Bellagio every day of the week - damned fountains!). Strangely enough, a condo at Veer or Vdara is one of our big (if improbable) dreams.

Paid today so we're another month down and only the 7 more to go if it all works out. I might have to bite the bullet and lower our daily gambling fund a little. That seems unlikely as we have a bit of extra money coming in over the summer and, for the sake of an extra 20 or so days at the tail end of the year, I don't think the mortgage freedom obsession will win over the use it if you've got it philosophy that takes over in Vegas!

Cheers,

Billy