Quest To Pay Off My 150K Mortgage in 3 Yrs!

steve007

We made a similar pact when we took out our mortgage 3 years ago.

Actually, we had never had a mortgage before, and were renting for 10+ years, which as we all know is dead money.

Anyway, we took out a 300k mortgage, and wanted to pay it off inside 5 years (I hate debt).

We chose a balance reducing mortgage, that is tied to any other accounts you have, and mirrors the interest.

I was not entirely sure how I would do it, although I had a small business which I was determined to grow.

To cut a long story short, I have now managed to pay off the mortgage in full, today, and it feels pretty weird.

I am only 37, but it shows that goals like this really are possible.

The crux is, that if you really put yourself on the line, and have a clear goal, then anything is possible.

I have two children approaching teenage years, and what it means to me, is that no matter what happens to me, my children will always have some security for their future.

Best of luck paying your mortgage off.

abouttimetoo

steve007 wrote: »

We made a similar pact when we took out our mortgage 3 years ago.

Actually, we had never had a mortgage before, and were renting for 10+ years, which as we all know is dead money.

Anyway, we took out a 300k mortgage, and wanted to pay it off inside 5 years (I hate debt).

We chose a balance reducing mortgage, that is tied to any other accounts you have, and mirrors the interest.

I was not entirely sure how I would do it, although I had a small business which I was determined to grow.

To cut a long story short, I have now managed to pay off the mortgage in full, today, and it feels pretty weird.

I am only 37, but it shows that goals like this really are possible.

The crux is, that if you really put yourself on the line, and have a clear goal, then anything is possible.

I have two children approaching teenage years, and what it means to me, is that no matter what happens to me, my children will always have some security for their future.

Best of luck paying your mortgage off.

Congraulations Steve and very well done :j

Have you thought about adding yourself to the MF Roll of Honour - it's at the top of this forum on a Sticky