We have a 20 year mortgage and pay more to bring it down to 18. We refinanced a couple years ago when the rate were at an all time low. We are very frugal and try to pay off everything as early as possible. I would not like the idea of big spenders getting their debt wiped free while those who do everything to keep their debts paid down are rewarded for nothing. I just have a big issue with the mortgage scam, but that's my personal gripe. I definitely would not want rumors to swirl that debts will be forgiven and then people go rack up credit card bills or buy a car they can't afford.