I wanna be mortgage free!

twinklie

Hey hey stranger! Thanks for reading my diary hon. Make sure you update us on your scan and get a picture up ASAP! I'm very excited for you!

I've give up on assignment till after Monk...must eat so it's a perfect time to take a break!

kindofagilr

Your welcome

I am lurking around here for some insperation, I need to pay off our loan and credit card first then we can move to here.

I will deffo update you on scan we have just got a scanner so as soon as we get back from hospital I will scan the pic and get it online. I will get OH to install it on the pc tonight so its ready to use

I have taken a look at the snowball thingy and if we can overpay on our debt by £300 a month (which I amnot sure if we can swing yet) we will be debt free and mortgage free by end of 2021 instead of 2039

twinklie

Blimey good going you! OOH before I forget....just becareful with scanning your pic - maybe check on pregnancy thread. I've heard scanning them can damage them! Wouldn't want anything happening to such a precious thing!

Whats the snowball thingy? I've seen it on a few signatures but I don't know what it is.

Well if we keep at it like we are we'll be MF by the date in my sig. But we won't be debt free for AGES due to my student loans. But those payments just come out of my pay cheque so it's not like I really notice them anyway! We are only OPing by a tiny amount, but thats because I want to get our savings up as far as 5K. Then I'll relax and throw more at OPing.

Mortgage_Reduction_Novice

Twinklie, Best of luck with OH's PhD application... he'll get letters before and after his name with that... just like me too! Not that I'm a 'letters after my name' brag!!! Also let us know after the open evening what you decide for your next degree.

MRN x

kindofagilr

Its this:
http://www.whatsthecost.com/snowball.aspx

You put all your debts in and the %% APR and how much the minimum payment is and how much you can overpay on all debts and it tells you which order to pay them in for you to pay less interest

I think it will work great up to a certain point, but near the end maybe not, cos we can overpay on our mortgage by 10% every year, our normal mortgage payment is £618 once we have paid our loan and cc off we want to be paying £1100 off the mortgage so say roughyl £480 overpay each month which over a year would be £5760, now if we only had 10k left on mortgage then the most we would be allowed to pay that year extra would be £1k, does that make sense? so thats not our exact date lol

Yeah I heard about taht with the scanning pics, but I cant think of any other way of getting it on? we are going to buy a few I think

2017 isnt far away at all is it I am sure you can do it!

Mortgage_Reduction_Novice

Top tip from my pg friend.... digital camera photograph of your baby scan then upload. Takes some skill to get no glare from the flash but protects the original image.

twinklie

See I'm a tad confused what to do because our car finance deal doesn't get the interest done normally. I can't remember what the deal is off the top of my head, but it worked out just as well putting money into a saving account and paying it off when we have the money all together.

I can't even remember what the terms are. I might have to dig it out and have a look now. Hmmm....

kindofagilr

Hmm yeah that might be worthwhile checking out, I havent even put our car finance on the snowball cos I dont think we can overpay on it, whereas we can on loan and mortgage

twinklie

Well I think we could reach the 2017 target as I just realised car finance money will end and then we can OP the mortgage even more! Woo hoo! I'm very excited! Still - get to find out what my new take home is next month too...yey for moving up the pay scale!

kindofagilr

YAY for moving up the payscale

I might start a post on the DFW board first and concentrate on the loan and credit cards then once that is done move over to here?