Lets say you own a 200k house outright. You take out a mortgage for 200k. You now have 200k debt on the house on 200k cash which you could spend however you wan

Lets say you own a 200k house outright. You take out a mortgage for 200k. You now have 200k debt on the house on 200k cash which you could spend however you want with no responsibility to the bank beside your monthly payment