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

liuhut

Hi Financialbliss
I dont mind what number I have. Just pleased to be getting one!!!
My mortgage, as of 30/4 was 63406.32 my monthly payment 344.21 however I have increased my repayment to 640 every month. By 12/12/12 I would like the mortgage to by 48,000 so I'll set my target for 15,500. It takes a while for me to get my monthly statement so hopefully I should be under the 63000 mark now.
I've put all the figures into the snowball and its says Dec 2019 for the last payment, thought it would be good to start a new decade MF and I'll still be young...ish at 42!!
The mortgage is on the house in England...we are currently living in Australia and renting down here but the plan is to probably go home at some point so the more I can knock off the mortgage the better it will be when we get home. I do want to try annd pay more off but I'm trying to get a balance with doing/seeing things and travel while we are out here and getting the mortgage cleared.
I'm a bit of a lurker, especially with the time diff I tend to read the posts when you lot have gone to bed. Anyway, I'm really excited to be on board and am off to post three ebay sales which is the start of the new, slightly more careful me.

Also wishing Taxi a speedy recovery xx

medic1978

liuhut wrote: »

I'm a bit of a lurker,

Welcome on board lurker :question:

>>>Posts: 1,195
>>>>Thanked 4,713 Times in 679 Posts

liuhut

lol I'm not great at spelling either!! but thanks for the welcome

ugucci

yes,you are right.
i agree.

greent

Ooh, ooh - just read financialbliss's post on the 2010 board - I'll take whatever number I can for this challenge if any are still available.....

I was going to wait and see if I get a number before coming up with a 3 year target - but I couldn't help myself and have been playing with spreadsheets. By 12/12 I'd like our mortgage to be £67500. That'll be hard work to achieve - especially if (when!) interest rates rise, as our fixes aren't far off ending. However, I'm of the opinion that targets should be a little stretching!

greent x

museumworker

Hello there - I'm interested in taking a spare number, if there still are some? Our fixed deal ends in Feb 2012, so we are keen to reduce the amount on the mortgage, and also increase the value of the house, so that we can get a better LTV (and hopefully a better mortgage deal).

Our mortgage at the start of this year was c. £194,000, I'll probably need some help from you more experienced MFW's to set a target (I was thinking about £170K by 2012, but definitely need some help seeing if that's realistic).

We're currently saving for the loft, getting our first quote this week - once that is done, we will switch to mortgage overpayments.

black_taxi_2

taxi73

health is the main thing

will be thinking of you bud

keep in touch

taxi73

Thanks all...I'll leave it up to FB whatever they think is best to do...I do still have intentions of paying it off early if I can but need to get my head around treatment first.

RosieTiger

taxi73 wrote: »

Thankyou everyone...I discovered it a number of weeks ago (6ish) so am over the shock now....I had an operation friday and am awaiting results for the next step of the journey....I will get over it.
I have a great support network on here and with family and friends....

My priorities have changed at the moment as I'm off work and am not putting any pressure on myself regarding debt and mortgage...if my CI cover pays out I will be rid of the debt and the mortgage has only just under 8 years to go anyway now....

So just wanted to free up the place if anyone elsewould like it.

Best wishes to you, hope everything goes well.

tiddles

Thinking of you, taxi73 all the best.

Tiddles x