I consider anything that we owe is a debt. So, yes, our mortgages are considered "debt". They are our only debt right now.

We have a good rate on our first (15-year, 4.375% fixed), but I have accerated the payment schedule on our second mortgage. The interest on that is pretty high and I want that loan gone ASAP.

Since we've recently paid off our two vehicle loans, we are now in a good position to pay extra on the second plus build up the EF that has been seriously lacking.

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SAHM to 4 rugrats

Although a mortgage is technically debt, I don't really consider it in the same category as consumer debt. We haven't paid extra on ours, but probably will.

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It's not what you make; it's what you spend.

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Yes, I consider it debt.

We are trying to fix up our house to move, for several reasons. When DH bought this house, he thought of it as a starter home. Because we don't intend to stay in it long enough to pay it off, we are not paying extra on the mortgage right now. We're amassing a down payment for the next house, and we're going to pay extra on that mortgage until it's gone.

It is absolutely debt. I realize that most people have a relatively small interest rate on their mortgage, but over the lifetime of the mortgage, most people will pay more than double the sale price of their house because of the long term. Though there is a tax benefit to having a mortgage, we try to pay towards the pricipal every month (even if it is just $50!). Just this little bit drastically reduces interest and the time necessary to pay it off. Just think of what life would be like without the obligation of a mortgage every month!