Our mortgage is now completely paid off. And we have no other debt. No car loans. No HELOC. No student loans. No margin debt. Nothing. We are 100% debt free now.
Unlike some bloggers, I've never taken an extreme position either way with regard to debt. I don't think debt is inherently bad and something to be avoided at all costs. But I also don't think people should load up on debt to binge on consumer items or to play games with low-cost debt versus higher-return investments.
Debt is both a tool and a risk. That is why most corporations have some moderate level of debt. But corporations can operate in perpetuity; individuals have a fixed lifespan. Hence, as people get older, it is natural for debt levels to fall towards zero if things are managed properly. We just arrived there a little earlier than some others.
The elimination of debt was the first domino to fall. The next one is on the way very soon...