Mortgage Free in Three Yrs

Desperate_Housewife_2-2

freedomgirl, well done on the job front. Its a good thing these days with the state of the jobs market.

Did anyone watch that programme last night called 'freefall' on bbc2? I taped it and watched it tonight, all about the way discounted mortages were sold by unscrupulous sellers, bit of a docusoap. It was a good portrayal really and made harrowing viewing, you have to feel sorry for the poor people who got conned.

Work is slow at the mo, I'm still waiting to start my new job ad just getting a trickle of work so I can't pay much off. I'm glad I chucked it all in the mortgage when I earned good money! Should pick up soon. Keep going everyone

Jonesy_Bonesy

Sorry for not updating this time around TG.

Here is my late submission.... I am under the magic 10K barrier :beer:
9K outstanding and 86K paid off. Get in.

Could all be set to change in the near future though as we have just started the ball rolling with getting an extension build. Still waiting for the architect to deal with the planning office and see what we would be allowed before he draws up plans, and will update in this thread when I know more.

Out of interest, does anyone else who is nearing completion of their mortgage find they are taking their foot off the pedal with regards to frugality ?? I did cut back quite strictly at the start and am easing up a little now as I coast in to the finish line. However if I need to spend 40K on an extension it will be time to go super strict again.

Cheers
Bonesy

FZwanab

Jonesy_Bonesy wrote: »

Out of interest, does anyone else who is nearing completion of their mortgage find they are taking their foot off the pedal with regards to frugality ?? I did cut back quite strictly at the start and am easing up a little now as I coast in to the finish line. However if I need to spend 40K on an extension it will be time to go super strict again.

Cheers
Bonesy

This behaviour seems very normal as you approach any goal. I know with weight loss you are all motivated and do everything perfectly at the start and then as you get near your goal it is harder and harder to stay so good, but you have to remember why you started doing this originally and look for that motivation to kick you into gear again and over the last hurdle. Check those overpayment calculators and see how much interest you've saved, look at your options for once its cleared and you will get motivated again, read the roll of honour etc.

TallGirl

Desperate_Housewife wrote: »

Did anyone watch that programme last night called 'freefall' on bbc2? I taped it and watched it tonight, all about the way discounted mortages were sold by unscrupulous sellers, bit of a docusoap. It was a good portrayal really and made harrowing viewing, you have to feel sorry for the poor people who got conned.:)

I saw that it was a really good explanation on how it all happened. The lowest rung on the ladder obviously got stung but the guy in the middle just kept on selling and managed to get rid of his house for a profit. The top guy the broker obviously jumped off the bridge. I would say it was pretty realistic with the discounted rate on the subprime mortgage which then increased by £300.

Only had 5 updates so far so please PM me with your figures as I am not alway near my spreadsheet so might miss it if you just post in here.

setmefree2

FreedomGirl wrote: »

Ha,

I knew that negative sign on the MFiT chart would mean that something had to happen!!

My OH has just got a job offer. Not sure on salary yet, but expect it will be enough for us to tread water

A happy FG

Desperate_Housewife_2-2

Jonesy_Bonesy wrote: »

Here is my late submission.... I am under the magic 10K barrier :beer:
9K outstanding and 86K paid off. Get in.



Cheers
Bonesy

yay! well done

setmefree2

Desperate_Housewife wrote: »

yay! well done

well done :T

Desperate_Housewife_2-2

:bdaycake:

Just popped in to share some cake as its my birthday today!

FreedomGirl

Hi everyone,

Thanks for all the positive messages of encouragement

Ah, well, with these new lower salaries, extra travel costs, and additional accommodation, it's going to take us a lot longer to pay the 30K off (I reckon at least five years). Well, that's me over at the next MFIT challenge !

Perhaps that's another answer for slowing up once you reach your mortgage free target? You don't want to leave the club ?

Seriously, I know the feeling, as we've got very close twice in the past five years to paying things off then not followed through.

I am still so happy we have both got jobs..

FG

dawnylou

Happy Birthday Desperate Housewife!!! x