Mortgage Free in Three Yrs

esthomizzy

minimoocow wrote: »

Come on everyone get those updates in (I missed the chart by a few hours and really want to be active rather than inactive so if you could all help me out that would be great!!!:rotfl:

Me too how sad is that!

Dithering_Dad

jobbingmusician wrote: »

Well, we've been having a difficult time as I have now been unemployed for nearly a year I've lost track of the number of times I've been told 'it was very difficult to choose between you and one other candidate'.

The good news is that, because I have overpaid my mortgage for so long, the relatively small amount remaining means that I have been able to maintain overpayment of a small amount each month. The amount outstanding is now £19,117.69. The mortgage company have now been contacted by JSA, who are making payments towards the mortgage each month, and were completely gobsmacked - they couldn't believe that anyone had not only not fallen behind, but had actually made small overpayments even though being unemployed for such a long time. (We wouldn't have been able to do it without old style, and my husband's DLA).

So all I want for Christmas is a new job..........

Best of luck with the job hunting JM and well done on managing to reduce your mortgage under such trying circumstances. You're an inspiration to us all.

FreedomGirl

Hi jobbingmusician,

I'm sorry to hear of your work troubles, and I hope you don't mind, but I'd like to pick your brains on something.

I am now a student, and my husband is unemployed (but not claiming JSA yet whilst he does some distance learning study at home). As you can see, we have a low mortgage balance, in an offset, and we'll be living off the savings in that account (it's going backwards by about a grand a month - thank goodness for my student grant which covers all my costs)

Do you know how the JSA people calculate what interest they should pay (is it interest) and, if you have an offset, how did they look at overpayment? I'm guessing that he will have to have been claiming JSA for six months (or is it nine?) before the protection kicks in.

Hope you don't mind my asking the question.

FG

TallGirl

Right here is the updated chart. Pleased to say we have 77 members left and 60 have updated so I think that is fantastic. Next update will be January 09 which will be the tough one.

MoneySavingNovice

Overall 55% after 18 months - that 5% ahead of target.

We done every-one!!!!

:beer:

And thanks TallGirl for the hard work

AnW'sMum

Well done to all those that have provided an update, I will rejig my findings and post them later this afternoon/evening kids dependant!

Mushy61

Many thanks Tall Girl.

The text is also a bit bigger this time too. so I can actually see it nice and clearly for a change.

gallygirl

MoneySavingNovice wrote: »

Overall 55% after 18 months - that 5% ahead of target.

And now that we owe less we'll be paying less interest each month so more of regular payments will be going towards capital reductions :beer:

Karmacat

I haven't been on this thread for *aagggesss* - but haven't paid anything extra off, tho still fundraising like crazy at anything I can. In the last couple of months, between mystery shopping, quidco and whatnot, I've got £360 or so in my earmarked account, and when that gets to £500, I make my next mortgage overpayment. With things I've got booked, should be another couple of months or so (I had a particularly good couple of quidco thingies!).

Amazing to see some 100% figures in that chart - special congratulations to them, and thanks to all the people who actually run this challenge.

hughmungas1986

Thanks TG,

The chart looks great, I've only got 48.99% to go to complete the challenge.

I'm hoping to get down to around £ 36k by the end of the year, to get slightly ahead of my personal goal.

Good luck to everyone

hugh