[quote=earlyretirement]I have been busy so I haven’t bothered yet to do this. Plus wasn’t excited about paying $500 to get the pay-off amount. But I will probably end up doing this as we plan to be in the house for the long haul.[/quote]

Here are the pros I summarized to pay off MR, just my 2 cents:
1) With such low 30-year fixed mortgate interest rate (~4%), it becomes more and more reasonable to pay off MR because MR annual payment is equvilent to 8-9% interest rate. In another words, borrowing some cheap money to pay off high cost MR is financially wise now;
2) The mortgage rate is locked for no change in 30 years while MR payment will be going up 2% (?) every year for 30-40 year. So given same amount of principle, the lifetime payment for MR is much more than mortgate payment;
3) Theoretically MR is not tax deductible, even it’s gray area on tax return now, but with many high income families in 92127, the AMT will kill the tax deductible advantage of MR;