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

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Comments

  • setmefree2
    setmefree2 Posts: 9,072 Forumite
    Mortgage-free Glee!
    Hi All :hello:


    Can anyone tell me the date of the next update please?

    smf2
  • 12th of Sept :j
    £14, 500 to go
  • black_taxi_2
    black_taxi_2 Posts: 1,816 Forumite
    Debt-free and Proud! Mortgage-free Glee!
    setmefree---next update is 12th sept

    ive reached 2k emergency fund--original idea was to get it up to 7k

    instead im going to o/p mortgage again from this month an very slowly add to emergency fund
    £48515 interest £181 (2009)debt/mortgage-MFIT/T2/T3
    debt/mortgage free 28/11/14
    vanguard shares index isa £1000
    credit union £400
    emergency fund£500
    #81 save 2018£4200
  • setmefree2
    setmefree2 Posts: 9,072 Forumite
    Mortgage-free Glee!
    12th of Sept :j

    Thank You!!!
  • setmefree2
    setmefree2 Posts: 9,072 Forumite
    Mortgage-free Glee!
    black_taxi wrote: »
    setmefree---next update is 12th sept

    and Thank You too! :D
  • gerbiljo
    gerbiljo Posts: 848 Forumite
    Mortgage-free Glee!
    Just updated, £46700 for us, no more overpayments this month wanted to squeeze them all in for the update. Really looking forward to the 'next' update, I love december and xmas and we will be into the final third after that, I'm one of the ones for which its dragged so love the updates as it provides a milestone :)
    Good luck everyone :)
    Mortgage November 2003 was £135k, but thanks to this website on 28/08/12 we became MORTGAGE FREE!
    Now just over 2 years we have taken on the challenge again! )(starting £237k Nov 2014) Current mortgage £232,399.82, current overpayment total £1550, years remaining= 17
  • £694 o/p sept

    1.£48k-debt/mortgage-12/12/09
    2.£8k-bank loan debt--PAID--1/6/11
    2.£2k emergency fund--HIT TARGET-1/9/11(changed ef to 2k instead of 7k---slowly building up ef)
    3.£32k-mortgage-mfw--2015
    £48515 interest £181 (2009)debt/mortgage-MFIT/T2/T3
    debt/mortgage free 28/11/14
    vanguard shares index isa £1000
    credit union £400
    emergency fund£500
    #81 save 2018£4200
  • Hello all

    Just updated my signature to include my new challenge (thanks for adding it FB). As my original target of clearing our further advance (originally £30,000) will easily be achieved by 12/12/12 I am now also aiming to get our main mortgage into 5 figures by 12/12/12, although any overpayments are likely to be minimal to say the least until the first target is achieved.

    I think I need to wait until the normal payment has cleared before making my first overpayment so I hope to do that between now and 12/09/11 so that it can be included in the official update.

    Best wishes
    Hooby
    MFiT-T2 #49 December 09 £15373, January 12 £0 target £0 by 12/12/12
    TARGET MET 11 months early - YIPPEE
    MFiT-T2 #50 August 11 £111,691.25, December 12 £96,699.20 target £99,999 by 12/12/12
    TARGET MET 3 months early - YIPPEE
    MFiT-T3 #49June 14 £76338.33 target £49999 by 12/12/15
  • Have just updated using the Google form.

    After moving some funds around a bit and overpaying, our balance today is £141k dead on. Very pleased with that and am crossing all my appendages that interest rates will stay as they are for a while longer! :)
    Highest mortgage debt - £167k in Dec 2008 :(
    MFiT-T2 challenge - starting balance of £144875 in July 2011 - aiming for £130k by December 2012
    Currently overpaying & hoping to be mortgage free by 2025 :D
  • I'm going to be reporting a balance of £23,848.

    I'm amazed how well we seem to be doing. I predicted we should be at £26,250 to be on track for where we said we would be by this stage of the challenge. This balance is where I expected to be around the end of March next year, so I have increased my amount I am ahead by an extra 2 months since the last update, where I was 4 months ahead. :D

    Pretty pleased we have been so succesful on one income, and will keep pushing on as much as we can before the next update.
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