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

SuiDreams

well haven't been doing well this year, net mortgage balance now £13,693, we are now £6266.33 behond on target, this is due to not hitting my savings targets. Partly due to new bathroom earlier in the year, plushigher food prices etc etc. Need to make a big effort in the new year to cut spending and save. Will update google docs later

loopy-juice

I've had very little opportunity this year to hit my mortgage. I paid an endownment straight in another couple of grand when I had it. I've nearly cleared my personal od and will be in much better shape in the new year. 27k still outstanding though. Started with 53k

black_taxi_2

hsbc told to issue 30m compensation


They were selling products to the elderly in care or about to go in care. Many of the individuals had short life expectancies and when they came to withdraw they faced huge penalties meaning they had less than they started with

how low can you go

gerbiljo

Well just about to submit google form at £39500, happy with this total, though the immediate future is slightly 'foggy'! 2011 has been an amazing year though hard at times, good to be on the home stretch I just hope it does end up that way!!
Looking forward to seeing everyones updates:T:T:T

diadeb

Just posted my update, having had to do some tricky sums and money shifting! We hadn't paid off enough to stay in the green zone, but if we slip now, there'll be no hope with the next update as Christmas comes in between.:eek:

So I rounded up the cash sitting around the house, paid a sum owing from another current account and then offset even more than I was planning. If my maths have been done correctly, then more by luck than judgement we will have stayed in the green zone exactly. I await financialbliss to check my sums are correct.....

Just had the latest credit card bill in and really starting to feel the pinch - petrol, car bills, school trip all add up to big sums.

RosieTiger

black_taxi wrote: »

p.s.---i hate being political--thats my rant over

Dont think you are, you stated facts!

gallygirl

black_taxi wrote: »

hsbc told to issue 30m compensation


They were selling products to the elderly in care or about to go in care. Many of the individuals had short life expectancies and when they came to withdraw they faced huge penalties meaning they had less than they started with

how low can you go

Probably a bit lower. Hard to see how though :mad:

wantabetterlife

Have just posted our update...balance is £137631 meaning that we have cleared over 23k off the mortgage since the start of this challenge and we have reached 89% of our target :j:j

Jock_Tight

No #165 checking in having just updated via google docs.

Our mortgage balance is now £12,280

According to my spreadsheet we are £1,022 ahead of target for the chart 8 update so well in the GREEN zone. We needed to be at 66.7% complete however have managed 69%.

Since the start of this challenge we have cleared £27,626 off the mortgage.

Jock

curlygirl1971

At the end of last month Black Taxi & I were virtually neck & neck in terms of Mortgage Balance at around £30.5k.

I OP'd on 1st and that brought my bal down to £29.9k which I was fairly chuffed with because it's nice when you cross a significant threshold. It's the psychology of 99p vs. £1.00

Then BT blew me out of the water with a larger OP and his balance is currently £29.6k (not that I'm cyber stalking his mortgage) which made me stick my bottom lip out. I know he makes bigger OP's than me most months but even so..........I just couldn't feel grown-up about it.

So I thought I would see if I could match the balance - I know I can't do it every month but thought it would be nice for our 2/3rds-through point. Don't get me wrong the motivation was not to 'beat' him so I could run around a pitch with my shirt over my head before completing a knee-skid. I just wanted to see if I could, for my own benefit.

So I looked at the figures and realised I could, and then I wondered if I could push it a little more and get it down to a half-signifcant threshold ie £29499 'cause that looks even better doesn't it

Anyway I've kind of cheated as I've raided my savings rather than sacrificed anything or worked harder. (Yes I know I'm the one that put the money in there in the first place - but it still feels like easy money)

Todays Balance £29962.51
Estimated Interest 01/12 - 08/12 £23.36
Less Payment 08/12 £493
= New Estimated balance of £29493

Will declare real balance via googledocs when I know what it is but am very happy with my 2/3rds-of-the-way-through-the-challenge balance. And thereafter I shall have to wave goodbye to BT's mortgage balance as I won't be matching his OP's every month.

So.........is there anyone else out there that has a balance almost the same as fellow challengee - can you squeeze a little more out to match it?