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Canne's Aussie Mortgage Free Diary

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  • canne_2
    canne_2 Posts: 124 Forumite
    Got some bonus family payments that get paid once a year of $1022. SO altogether we have put $1613.05 to the mortgage plus $510 minimum payment which makes the new balance 113,463.26.
    The Mortgage Free in Three - Take 2 Challenge (MFiT-T2): #58 - Goal: Get to AU$50 000 by 12/12/12
    Current balance: $84 693
    2011 MF Wannabes: #102 - Goal: Overpay mortgage by AU$15 000
    Total paid for 2011: $2253.16
  • canne_2
    canne_2 Posts: 124 Forumite
    Interest went on on the 25th July which makes the new balance $113 970.

    We are selling some jewelery next week and will get $1500 for that. We massively overpaid for them in the first place so we are selling at a loss... but the $1500 is better in the mortgage than in the cupboard...

    This means by the end of August we will have almost cracked the $110 000 barrier...
    The Mortgage Free in Three - Take 2 Challenge (MFiT-T2): #58 - Goal: Get to AU$50 000 by 12/12/12
    Current balance: $84 693
    2011 MF Wannabes: #102 - Goal: Overpay mortgage by AU$15 000
    Total paid for 2011: $2253.16
  • setmefree2
    setmefree2 Posts: 9,072 Forumite
    Mortgage-free Glee!
    Well done with all your progress and goodluck.gif with the sale
  • canne_2
    canne_2 Posts: 124 Forumite
    Another 2 weeks have gone by! The rates the weeks are going, this mortgage will disappear so quickly. I did some rough and ready figures and it should be paid off by January 2013 at the earliest - mid 2013 at the latest...

    Old balance: 113 970
    Minimum payment: 510
    Extra payment: 608
    New balance: 112 852

    I won't get the money for the jewelery for a couple of weeks, that will be another $1550 off the mortgage when I get that... (the extra $50 is for a ring that is a bit damaged)

    We have now paid off 16.03%...WOO HOO!
    The Mortgage Free in Three - Take 2 Challenge (MFiT-T2): #58 - Goal: Get to AU$50 000 by 12/12/12
    Current balance: $84 693
    2011 MF Wannabes: #102 - Goal: Overpay mortgage by AU$15 000
    Total paid for 2011: $2253.16
  • financialbliss
    financialbliss Posts: 1,951 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    canne wrote: »
    Another 2 weeks have gone by! The rates the weeks are going, this mortgage will disappear so quickly. I did some rough and ready figures and it should be paid off by January 2013 at the earliest - mid 2013 at the latest...

    Just thinking out loud - if you think you could hit January 2013 at a push, the mortgage free in three take two challenge end date of 12/12/12 is only about 3 weeks earlier.

    Would be fantastic if you could clear your mortgage by the end of the challenge!

    FB.
    Mortgage and debt free. Building up savings...
  • canne_2
    canne_2 Posts: 124 Forumite
    Hi FB,

    Yes I have thought of that but the Jan 2013 date is the absolute earliest unless we start living on peanut butter sandwiches...I am expecting it to be mid 2013 in reality...

    We will see how we go...

    I have to buy shoes for my son this afternoon. He has to wear splints for 2 months so I have to buy a bigger shoe...
    The Mortgage Free in Three - Take 2 Challenge (MFiT-T2): #58 - Goal: Get to AU$50 000 by 12/12/12
    Current balance: $84 693
    2011 MF Wannabes: #102 - Goal: Overpay mortgage by AU$15 000
    Total paid for 2011: $2253.16
  • canne_2
    canne_2 Posts: 124 Forumite
    I received the payment of $1550 for the jewelery today...

    Old balance: 112852.10
    Payment: 1550
    New balance: 111302.10

    I'm nearly under 110000!
    The Mortgage Free in Three - Take 2 Challenge (MFiT-T2): #58 - Goal: Get to AU$50 000 by 12/12/12
    Current balance: $84 693
    2011 MF Wannabes: #102 - Goal: Overpay mortgage by AU$15 000
    Total paid for 2011: $2253.16
  • setmefree2
    setmefree2 Posts: 9,072 Forumite
    Mortgage-free Glee!
    canne wrote: »
    I'm nearly under 110000!

    good_luck.gif
  • canne_2
    canne_2 Posts: 124 Forumite
    I received $25 today from a survey company called pureprofile...I also transferred $1 the other day which was sitting doing nothing in my account.

    That makes the balance: 111276.10
    The Mortgage Free in Three - Take 2 Challenge (MFiT-T2): #58 - Goal: Get to AU$50 000 by 12/12/12
    Current balance: $84 693
    2011 MF Wannabes: #102 - Goal: Overpay mortgage by AU$15 000
    Total paid for 2011: $2253.16
  • canne_2
    canne_2 Posts: 124 Forumite
    I looked up my home loan statements and here is a rundown of progress in 2009

    8 Jan 130 327
    8 Feb 126 952
    8 Mar 126 252
    7 Apr 122 591
    14 May 120 535
    11 June 118 751
    12 July 115 961
    20 Aug 110 219

    Not too shabby!

    Yesterday I paid $1054 to the mortgage to make the new balance 110 219.

    Cheers

    canne
    The Mortgage Free in Three - Take 2 Challenge (MFiT-T2): #58 - Goal: Get to AU$50 000 by 12/12/12
    Current balance: $84 693
    2011 MF Wannabes: #102 - Goal: Overpay mortgage by AU$15 000
    Total paid for 2011: $2253.16
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