Mortgage Free in Three Yrs

Kaz2904

DH came home with his pay cheque tonight so I have whipped it off him and done my update. My signature is now correct to 21/03/09. I then went and worked out what that meant payment wise in terms of reaching my goal. There are 13 payments left for me between now and 1/04/10. So dividing my leftover by 13 means I need to pay £1382 from debt each month to see us hit the target. I already pay £1330 to debt each month. So I need to try and pay £52 + any interest. So next month I need to pay £284.14 on top of my usual.
I have wages owing from a night shift in January which I will get on 22/3. I have also done 2 extra nights this month, 1 extra Sunday and have another 2 extra nights coming up before payday. I should get at least £500 from that lot. I also have someone coming to look at my old car on Monday. If she is interested then I expect I'll let her have it for £500 because it's better to sell at a loss than not sell at all.
DH and I are still sitting tight about the other house. Nothing has happened with it as yet. My friends think I should go and see it but I'll sit tight. If it's not sold by the summer then I think I'll go and see it around August time when I've had a chance to pay more off- would hope all the savings were repaid by then and the mortgage will be down to 47.5K.
Work wise, still a few shifts to be covered but we have some new starters and some coming back from maternity leave so don't know how long the shifts will be around. I'm in a CCU connected to the ward so I can put down for extras out on the ward too. I am on the bank at the hospital- we all are now as they want to pay us less for the overtime but I don't fancy going and working on any of the other wards so once the extras have dried up, I will stop doing them- hence so many extras in one month!
I still remain positive that we can reach our goal and then hope to continue on the take 2 thread. Who knows, I may even get to the end of that challenge and be completely debt free rather than having 9K still left to clear- (here's hoping!).
TTFN, Kaz.

hughmungas1986

' Just been showing this post to DH - Hughmungas - he wants to know what other suggestions you have (He's had a drink!!!) '

How about a nice weekend away, somewhere you've always wanted to go but never got round to it. You deserve it after working so hard and clearing your mortgage

hugh

Dithering_Dad

Congrats Minimoocow!!

taka

Congratulations Minimoocow!
:j _party_ :T :beer: :T _party_ :j

Kaz2904

Yay! I sold the car! £500 extra towards mortgage freeness! That knocks an extra month off our snowball and brings Florida 1 month closer.
However, DH has been looking at cars today and has seen a Ford Focus (we already have one!) and a Vauxhall Tigra- totally unsuitable for a family. Espescially as he's 6'3". I'm going to have to use my womanly wiles to delay him for the next 5 years at least I think!

Desperate_Housewife_2-2

well done kaz, everything helps.

I'm just calling in to update my sig, had a really good month at work and cashed in my alliance and leicester regular saver (managed to bag a whopping 10% interest last year) I saved £250 a month for 12 months and made £156 interest after tax which is great! I've been calculating the running total off my mortgage balance but not the interest so that will go in the pot (it was stoozepot money anyway).

So the grand total to pay off this month is...£2K! Making it £10500 yay!

Did an A&L account for hubby too and can cash his in around June so another free £156 to look forward to.

Keep up the good work everyone, March is a short month...

setmefree2

Kaz2904 wrote: »

Yay! I sold the car! £500 extra towards mortgage freeness! That knocks an extra month off our snowball and brings Florida 1 month closer.

well done on that :T

setmefree2

Desperate_Housewife wrote: »

So the grand total to pay off this month is...£2K! Making it £10500 yay!

well done on that :T:T

firesidemaid

oh DH! so close to sub 10k:j.

i am in mortgage limbo at the moment as we were supposed to smoothly:rolleyes: switch lenders 1st march, but of course that has not happened.

each lender blames the other, but i know who i think is to blame and so far they have used 3 different excuses:mad:. meanwhile the difference in interest rates is costing us £5+ a day.......which of course i will ask them for;).

am annoyed as i cannot make overpayments until this is sorted. but am sure it will all come out in the wash soon......ish......:rolleyes:

justmeklg

my current mortgage deal ends in july and ive been looking at the virgin one deal where they give you your mortgage your salary and savingings all go together to reduce the interest therefore, as per thread, paying of your mortgage sooner.. has anyone got this account, its it what it says on he tin? worth doing? any responses greatly appreciated (this is my first post ive been a member of the site for ages but not the threads) thanks Kath