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

Floxxie

Congrats weezl, you will have your hands full next year

shaz, I would give your lender a call. It may be that you could reduce the term left i.e. increase the amount you are paying each month AND have the option of the annual overpayment without penalty.

Out of interest why are you paying for college? (I have no plans to help my children through uni :rotfl:)

shaz_mum_of__2

Its my step daughter who is going to college , my exes wife moved to the states after they divorced they agreed that my hubby would help towards college rather than pay child support .........................Its a contentious issue as legally he has no obligation to do so but morally is another matter...


Well done weezl I had heard whispers on the grapevine but nice to hear from the horses mouth as it were .....................as floxxie said ,hands full or what, i guess that will make ferg 2 when new baby comes along ?

Thanks for the advice will sort that out

Shaz

Floxxie

Hi shaz, no criticism meant at all and of course that makes sense as part of a settlement...in which case you probably shouldn't touch the college fund to reduce the mortgage

Have been eBaying hard(ish) and had a good week so will have some pennies to put towards the £30k pot. In the meantime I have to work out exactly what the outstanding amount of everything I owe in the world is and I shall use this as my mortgage-pay-off target.

pawlala

Hi

Please add me to the MFiT-T2!

Aim: to clear mortage completely, made up of the following parts (need to be kept seperate as the second one doesn't exist yet and is only an estimated figure!):

Part 1 = £9500 (current mortgage)
AND
Part 2 (est. £90000 further mortgage for second property)

I won't know the figure in part 2 until the earliest next year but didn't want to miss the MFiT-T2 deadline

shaz_mum_of__2

Floxxie wrote: »

Hi shaz, no criticism meant at all and of course that makes sense as part of a settlement...in which case you probably shouldn't touch the college fund to reduce the mortgage

Have been eBaying hard(ish) and had a good week so will have some pennies to put towards the £30k pot. In the meantime I have to work out exactly what the outstanding amount of everything I owe in the world is and I shall use this as my mortgage-pay-off target.

None taken , well done on the ebaying

Just found a stash of old coins in hubbys loft from when he was a kid trying to find out if any are valuable ds is fascinated by them especially as some are "east india company" a la pirates of the carribean also some japanese coins oval shape with square holes in interesting to look at if not valuable .................................just need to persuade him to part with the BOXED Dinky toys too!!!

Unfortunately? i have never been a hoarder so have nothing to sacrifice!lol

sleepingpintsized1

Hiya All

Just a quick question about my blog. I started it with a duel purpose. Firstly, to write about how I'm progressing with my mortgage free challenge (or not as the case may be with some of my entries!) And secondly because I was told you can make money out of writing a blog - but how?!!!!

I've signed up for google adwords (I think), and although I was turned down originally, after my second application, I was accepted. My blog now has some adverts round the side so I thought I would have started to make a bit more than 76p!!! That's not exactly going to help me reach my 12/12/12 target now is it :rolleyes:

I've only got 3 followers (thanx to those 3 - I'm sooo greatful!!) but I take it that's why I'm not making anything? Not sure what it's dependant on but if it is the number of followers, please, please, please can you register to follow my blog?

mortgagefreechallenge.blogspot

Or failing that, I'm challenge number 119 and there's a link to my blog on the first page.

If that's not the case, please can anyone advise me what I should be trying to do? I know at least one of you fab people will be able to help me (or point me in the right direction at least!!)

Thanx Everyone!!

Px

Kaz2904

I have my starting figures now for 12/12/09. I've got a bit lost with all of the google whatnot thingy so will have to sit down and have a read tomorrow or whenever I get 5 seconds to myself!
It's still looking as though it will be all gone on 22/04/2013.
Starting figures: 12/12/2009. Principality mortgage £41,645.26 @5.29 (til June 2010, then who knows?!) Mum Loan £11210 Total debt £52855.26

For the purposes of the challenge I am just going to ignore what is owed to the savings because we still have work to do to the house. We may have some big expenses coming up with needing new windows soon etc etc. The money is kind of meant for that so it will be used for that. It will be bumped up once everything else is cleared anyway!
I will aim to only owe £8000 on 12/12/12 with the mortgage having been cleared 22/09/12.

KazLA

#138 checking in with details at last!

Thanks for the instructions for the spreadsheet Finacial Bliss, I've finally had chance to sit down and go through it and have worked out our payments for the next 3 years!

Our starting balance as at 12.12.09 will be £96,580.

By 2012 we would like to reduce this to £85,000 by overpaying £50 a month.

It's not much in the great scheme of things, but we have never overpaid before, and it will be a challenge to meet this every month, especially with a second baby planned. Ideally we would like to overpay by more than this, and if circumstances allow, we will do so, but would like to set a target that will be achievable, rather than expecting too much and being disappointed!

Looking forward to hearing how everyone gets on.

Karen

cha97michelle

sleepingpintsized1 wrote: »

Hiya All

Just a quick question about my blog. I started it with a duel purpose. Firstly, to write about how I'm progressing with my mortgage free challenge (or not as the case may be with some of my entries!) And secondly because I was told you can make money out of writing a blog - but how?!!!!

I've signed up for google adwords (I think), and although I was turned down originally, after my second application, I was accepted. My blog now has some adverts round the side so I thought I would have started to make a bit more than 76p!!! That's not exactly going to help me reach my 12/12/12 target now is it :rolleyes:

I've only got 3 followers (thanx to those 3 - I'm sooo greatful!!) but I take it that's why I'm not making anything? Not sure what it's dependant on but if it is the number of followers, please, please, please can you register to follow my blog?

mortgagefreechallenge.blogspot

Or failing that, I'm challenge number 119 and there's a link to my blog on the first page.

If that's not the case, please can anyone advise me what I should be trying to do? I know at least one of you fab people will be able to help me (or point me in the right direction at least!!)

Thanx Everyone!!

Px

Blog payment is for people clicking on your adverts. Lucky you earning 76p. I've earnt 2p on mine and i have had it a while. :rolleyes:

pawlala

I run a fairly large website and use adsense. It pays for the server costs but by no means is it large enough to additionally contribute to 12/12/12.