Mortgage Free in Three Yrs

AnW'sMum

Hey TG whatever floats your boat and it sounds like you might literally be floating on the course today!

A golf property could be quite lucrative especially if you can rent it out. I am no golf fan myself but understand that it is not a cheap sport to indulge in so if you chose a place on the right type of course you could be ££££ in.

minimoocow

Dithering_Dad wrote: »

Hi Everyone, we had a bit of an attack last night from a troll who questioned whether I really could pay 20k off my mortage in one month (well, in fact called me a liar) and questioned the merits of us doing our mortgage free quest. Luckily the moderators have deleted the original message, but for the trolls information and for anyone who may have seen the troll's posts...

On the first point.. £10,700 of the 20k was an endowment I cashed in that had been running 10 years - not so difficult to believe. The other 10k is in my offset and is comprosed of two month's payments of 3k and 7k from my company. There are two months payments because I started my personal quest mid March, but then was joined by my MFiT pals and so moved the date to the start of April because that was when most people joined.

I normally wouldn't be able to afford the 7k, but I was holding money back for VAT and didn't have to hold back as much as I thought, so onto the mortage it went. I don't know how I can prove how much I earn, except by people looking at this link: SAP Payroll Contract Rates and this SAP HR Contract rates. I do both of these, and it has taken about 8 years of working in both fields to get the experience and confidence to be able to try freelancing.

As far as the decision to pay off our mortgages is concerned, I think this is a "no brainer". How could it not be a good thing?

Thanks for your support guys, it's really appreciated. Had a bit of a rough day yesterday and today and then to log onto that lot... :rolleyes:

ta.
xx

DD - I too missed all the action last night but just wanted to say - you have absolutely no need to explain yourself or prove where your money is coming from! I (and I'm sure most others on here) had read your other posts and realised that some of last months total was a one-off gain that won't be repeated - Big deal it's still paid off the mortgage!

I don't for one minute think you are a liar. I enjoy reading your posts and whilst I was already planning to be MFiT anyway it's great to have the support of all on here.

Tall girl - that's some collective total . . . we're on our way . . .

This thread is turning into an epic - been up an running about a month and already 20 pages - is there a MSE record cos I reckon over 36 months we might just break it!!!

odds-n-sods

To as little as possible! - but we think we can repay it in 5 years or less.

groatie_queen

DD, don't worry - anyone who has been reading your posts knows how sincere you are, how hard you have been working lately, and also the financial wisdom you have shown, in being able to pay towards and also offset savings/investments against your mortgage.

I know how much you care for your family and that you're making real personal sacrifices by working abroad at present to make the income towards being MFiT and beyond. Living in a hotel bedroom for night after night takes real dedication when you love your family.

I guess the troll is just jealous that having made a path for yourself you're getting results for all the hard work you've put in over the years, both in career development and financially. It takes courage to go freelance, courage not everyone has.

Good on your MSE ways re the accommodation in Norway!! Every pound saved is a pound towards the mortgage - aren't prices horrendous over in Norway?

You're a great example, with your feet on the ground and good fun as well. Your MFiT friends appreciate you for starting this thread and for your good humour and keeping us all going!!

Best wishes
GQ

TallGirl

Thanks AnWsMum I am still in two minds as to call the whole thing off, anyone else been on one of those inspection trips? Are they really hard sell?

Just got back from the golf club - managed to play 3 holes before we got called off due to thunder. It wasnt actually that bad and I played quite well but in the end happy to get in as I had wet feet.

DD no one here doubt your commitment to repaying your mortgage and you are great inspiration so dont let anyone else tell you otherwise.

Dithering_Dad

Thanks everyone! Having your details and challenge on a website like this is a bit of a double-edged sword in that you lay yourself open to attack by people like sloppy when you could have quietly paid down the mortgage with only your family knowing what you're upto. The other edge to the sword is that you get such great support form like-minded people, and that easily outweighs the negatives.

I normally just laugh off the trolls and we are lucky in the DFW & MFW boards that we generally don't get any. I had a bit of a bad day on Friday though because we received a long-awaited report on the extra support my daughter should be getting at school, which dissappointingly did not provide enough hours, so we are appealing, but this will be a further delay and it's not long until September. I also had a weekend alone in Norway to "look forward" to and had a telephone interview for a new contract lined up that didn't occur. Plus to put the icing on the cake, the distance learning course I'm doing is getting tough and impacting the time I have to do all my company tax year end stuff.

Was a bit stressed, and then to log on to all that, it kinda knocked me sideways. However, these things are set to try us and I've had an email from the agent and the phone interview has been rescheduled to Monday morning, my missus has started the letter to the council about 'lil one, I've been working all weekend on my course work which has stopped me feeling too lonely and I'm now just about to do tackle my year and company stuff. That's what's good about life - one minute you're down and then you're right back up again!!!

Right, off to do my books. Thanks again guys for your support, it's greatly appreciated. I never thought I'd need it right at the start of the challenge though!

FrugalNotTight_2

Hey DD,

I'm a great believer in fate and I truly believe that the telephone interview wasn't meant to happen on Friday because you weren't in top form.

You will be for Monday though!!!

FNT

groatie_queen

Glad to hear you're feeling better DD. Hopefully it won't be too long before you and Mrs DD get positive results re your daughter's support needs.
Best of luck for tomorrow's telephone interview!

GQ

chickadee

Hi everyone,

I just thought I'd add my few words of support to DD and indeed all who are contributing to this thread with the intention of cutting down their mortgage. Anyone who can say that is pointless is beyond help.

Anyway, I have written to my cleaning company to cancel their services. This absolute luxury (spotless house every two weeks) was costing me £122 per month . Yes I know, sooooo un-MSE but I have now worked out that by overpaying just the £122 each and every month I would reduce the term of my mortgage by 5.5 years and save almost £15K in interest! Wow, that is an eye-opener. It is also enough to motivate me to get rid of the cleaners and get out the hoover!

Ok that is my confession over. I have been really focused this week and my only expenditure has been £6 on groceries, £7 on a book and £10 on a birthday gift for my sister-in-law. My mum's birthday was also this week but I used my and-more vouchers to buy her present and cards.

Stay focused everyone, and just ignore anyone who tries to rubbish the intention of this thread and its participants. We will be the ones laughing at them when we are all free of our mortgage ball-and-chain in three years time.

taka

Hi all!!

I missed the troll's coments but just want to say...

Everyone is here to try and decrease their mortgage debt. Whether someone has a small amount to pay or large or whether they will manage it in 3 years or 10 years it doesn't matter. As long as this thread is helping people to achieve their goal its a good thing! I'm here to keep myself motivated in my challenge!