[PeteSB75]

The problem with paying off the mortgage is that it generally costs you less to pay the normal schedule than it does to pay it off. Even if your interest rate is 7-8%, once you take the tax deduction off the top, you are looking at 4-6% for that money, so it is very cheap, basically the cheapest debt you, as an individual, will ever have. If you refinanced within the last year or so, make that 4-5% and 2-3%. So, if you throw that money you would use to pay down the house into a mutual or index fund(I'd suggest an S&P 500 index or Russell 5000 Index unless you have multiple millions to invest) and assume the historical average return for the market - about 7% a year, you are making anywhere from 1-5% return on your money over what you would be saving in payments.

Obviously, this is your money and you should do what makes you comfortable. If you feel better about the opportunity cost and owning the house free and clear, do that. But make sure you understand what it is you are choosing and what the alternatives are.