Todd and Oana talk about what happens when you make your last mortgage payment and pay off your house. There are a lot of things you have to make sure happen, or you may still owe a small amount on your house. Property taxes, homeowners insurance, making sure you get the deed of trust released, etc. There is another benefit of getting the impound account money returned to you.
It is common for people to make their last payment on their mortgage, but then are unaware of what happens next.
There is no better feeling than owning your home free and clear.