Most people are never going to be able to access the equity unless they retire and downsize. And people end up in situations where they can't make payments and

Most people are never going to be able to access the equity unless they retire and downsize. And people end up in situations where they can't make payments and have to walk away and take the credit hit all the time. Worrying about the theoretical amount you owe instead of the actual amount you have to pay is just dumb.