The Mortgage Free in Three - Take 3 challenge (MFiT-T3)

black_taxi_2

TallGirl it's great to see formites on here that have moved from debt/mortgage/mortgage free to savings---its just a matter of time an commitment.

I wasn't on the original MFW 2007 but joined 2009.for motovation it's great reading thru the threads back then.alot of us were over optimistic in how quickly we would be MF,but that's no bad thing.for those who hav stayed the course we will get our reward.

I've never saved in my life-just debt an loans/I hope to be joining you tall girl in the savings department mid 2014.

g/l all

someday_soon

Hi Everyone

Would love to rejoin for this challenge. We should be quite close to mortgage freedom by the start of it and are keen to develop our savings over the next 3 years. Will need to confirm the numbers nearer the time.

To those of you who have just joined up, the rewards are SO worth it as you near your goals in terms of peace of mind and options for the future. Stick with it and keep calling in for inspiration to these great pages.

Currently having fun in the sun at the moment- how's the planning going FB because you are going to LOVE it here!

Bye y'all

Someday Soon

HelenDaveKids

I desperately want to be paid off in 5 years, as I'd really like a deposit to eventually buy a rental property (massive projected future plan), ideally my thoughts are if our oldest goes off to uni (shes 13 now and wants to be a music teacher) then it would be fantastic if we could buy a house for her to live in rent free through her uni time and rent the rest of the house to pay the morgage, or near as.
I knew a girl whose dad did this, and all her mates lived with her. would make me feel happier knowing the LL! Plus I always think rent money is dead money.
The downside is that her 2 younger sisters are 21 months and 3 years 3 months younger and if they decide to go to uni and choose a different destination then we wouldn't / be unlikely we could afford to do another 2x . Obviously haven't thought yet about fees....... (scary thought - 3 at uni same time!, we'll be on bread and jam!)

My projected £33,000,00 for this challenge might be ambitious but is achieveable if not too many disasters along the way.... mot next week! Think the support on this thread is brilliant!

financialbliss

Well that didn't take long. Just less than a week in and we're up to 50 already - ElusiveLucy hitting the 50.

Numbers allocated this evening as follows:

44. CathT. Reduce my mortgage from £106,000 to £80,000.
45. Penny pauper. Reduce my mortgage from £128,772 to £100,000.
46. kjsmith7. Reduce my mortgage from £43,000 to £30,000.
47. SuperSecretSquirrel. Reduce my mortgage from £81,500 to £60,000.
50. ElusiveLucy. Reduce my mortgage from £48,000 to £29,999.

I've already PM'd everyone.

FB.

the_end_of_the_rainbow

Hi FB

Please can I join this challenge.

Currently no 189 on the MFiT-T2 challenge - if I can keep this number that would be great - alternatively number 89?

Only have £1883 left on my current mortgage but am taking on a massive £400,000 mortgage on a new house.

Aim will be to either have £40,000 in savings by 12/12/15 or to reduce loan by £40,000 (or mixture of the two!).

Huge thanks for organising another challenge.

the end of the rainbow x

ammonite

I've just registered. Currently got 9% of the mortgage in savings. Want to have 35% by December 2015. Going to be a SERIOUS challenge as baby is on the way and I'm not sure what hours I'll be working next year so have to assume we are on one wage for the forseeable future. I do wonder if 35% is too high but we all love a challenge

Thanks Financial Bliss - it is no mean feat setting up these challenges

unhappy_shopper

I have again signed up to clear my mortgage of £115K within the next 3 years. I know, it is asking too much. But, I am an 'Aim for the stars and maybe you'll reach the sky' person. So, hopefully we'll make a massive dent in our outstanding mortgage.Last time, we started the take-2 version of the journey, we ended up buying another home right in the middle of that period and adding up to our earlier mortgage. Still, we have repaid quite a big fraction of the mortgages. Hopefully, it will be much better this time around. All this would not be possible without the continued inspiration and money-saving tidbits provided by fellow MFWs. Not to forget, Thank You FB, for again running this challenge to keep us all in the straight and narrow.

chocoholic_chick

I've signed up to this challenge ( I think, apologies if I've not filled out the form correctly though )

Aim is to get our mortgage down to £76,000 so pay off around £22,500 in 3 years. It'll be a bit of a challenge but hopefully it can be done!

HelenDaveKids

Signed up but seriously motivated at mo, so would like to lower my starting figure. Spent all Saturday putting contents of garage on ebay!

canne_2

Hi I would like to join the new 3 year challenge. I am number 58 on the current challenge. My mortgage in December should be about 53000 but I will update you on the actual balance at the start of the challenge. I want to pay off the mortgage completely by December 2015.

Thanks

canne