This argument doesn't make sense. The money isn't gone, it is accumulating in an account and can be applied to the mortgage at any time plus the interest rate a

This argument doesn't make sense. The money isn't gone, it is accumulating in an account and can be applied to the mortgage at any time plus the interest rate arbitrage. Making extra mortgage payments does not remove any risk. It makes no sense to pay off debt with a significantly lower interest rate than the sovereign interest rates for the currency it is denominated in. It is the closest thing to "free money" as exists. I know several people that could pay off their house any time they feel like it but don't because their interest rates are lower than US treasury rates. It is the financially prudent thing to do. If they wake up on day and decide they don't want a mortgage, they still have that option.