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

coldstreamalways

How often does a new MF in 3 start? I desperately want to join a challenge (in November, when the CC is paid off) and I can't wait!!! I love updating my signature, I get so excited by it and so want to hack my mortgage to pieces. Wynnvegas, you've done amazingly and I want your signature at the bottom of my posts!!1

When will the next one start? Can you join at any time?

black_taxi_2

coldstream--join MFW--2011 in jan(a yearly thread)its 2010 thread at the moment

most of us are on both threads

black_taxi_2

spent weekend budgeting and working out o/p

im extending MF by 3 years/but balance will always be going down

this will help me not being forced to a new bank loan

less pressure and a bit of leisure time/a bit of savings

balance will look nicer dec-2012 thou

Kaz2904

Don't worry black taxi. I won't be clear until May 2013 (provided everything goes to plan!). I've been at this since January 2006 and can't wait to get rid of the blasted thing but can't get rid any quicker. Ho-hum!
I might actually ring the mortgage company this time to get a precise figure as my interest rate has lowered since May. I like to be accurate at least once in a while!

Floxxie

I'm sorry but I am going to have to pull out of the challenge. My husband decided to have a mid-life crisis and leave me and the children yesterday.

My priority now is to put the house on the market and then get the solicitor to make sure that I get some of the equity back.

Good luck with the rest of the challenge.

uzubairu

Floxxie wrote: »

I'm sorry but I am going to have to pull out of the challenge. My husband decided to have a mid-life crisis and leave me and the children yesterday.

My priority now is to put the house on the market and then get the solicitor to make sure that I get some of the equity back.

Good luck with the rest of the challenge.

Sorry to hear that you are going through a traumatic time in your life.
I hope that you can get through this and do the best for yourself and the kids.

Best wishes.

Penny_pauper

Quick up date mortgage is is now (or rather will be on the twelfth with interest) £145,036.49. Not great and am now probably off target but at least it's getting chipped away at in tiny chunks whilst I'm on maternity leave.
Floxxie, I'm really sorry to hear about your situation, good luck and I hope you get a really good price on your house to give you a bit of extra security.
Take care
PP

twinklie

Update from little old me....

Mortgage at start of January: £ 39'767.97
Overpayments in Blue.
Interest in Red.
Balance in Green.

Month: Payment (Std / OP) / Interest (per day) / Net reduction / Balance

January: 450.00 (328.81 / 121.19) / £178.62 (£5.76) / 271.38 / £39,496.62
February: 450.00 (328.81 / 121.19) / £177.48 (£6.34) / 272.59 / £39,224.03
March: 450.00 (328.81 / 121.19) / £176.18 (£5.68) / 273.82 / £38,950.21
April: 450.00 (328.81 / 121.19) / £174.95 (£5.64) / 275.05 / £38,675.16
May: 450.00 (328.81 / 121.19) / £173.72(£5.60) / 276.28 / £38,398.88
June: 450.00 (328.81 / 121.19) / £172.47(£5.75) / 277.53 / £38,121.35
July: 450.00 (328.81 / 121.19) / £171.23(£5.52) / 278.77 / £37,842.58
August: 450.00 (328.81 / 121.19) / £169.98(£5.48) / £280.02 / £37,562.56
September: 450.00 (328.81 / 121.19) / £168.72(£5.62) / £281.28 / £37,281.28

Totals: Payment / Interest / Net reduction.
Grand Total: 4'050.00 / 1'563.35 / 2'468.72

Balance outstanding: £37,281.28

gallygirl

Floxxie sorry to hear news .

Just updated google docs. Have paid off £11,007

Should have paid off £17,104

Oops

In my defence, last update was 7k short (new kitchen) so I am clawing back, have also just 'borrowed' 2k from offset for a few months so by Xmas update I'm hoping to be only 3k behind.

Well done everyone else :T

ETA: just discovered a payment of around 450 I thought I'd made to offset hasn't gone in, also OH just paid in over 450, so that's nearly an extra 1k. Won't update though, will leave as is but will look a lot better next time

SuiDreams

Update from No. 32

Net Mortgage Balance (Mortgage Balance less ISA savings) £17293
Shortfall on Target £493 (this has reduced by £295.33 since the last update)
Total reduction since start of the challenge £5107, Target Reduction since start of Challenge £5600.

Hopefully back on Target by the end of the year.

Think we've done very well considering, had quite a few additional expenses so far this year.