You got that right. Also, no more paying your property taxes monthly along with your mortgage payment. Send in the one big check at the end of the year and see people scrambling to come up with the dough at Christmas time. That might get a few people's attention.
You can do that if you want to. Most people just prefer to allow the Mortgage Company to handle it for them.
Similarly, I shoot to have as close to zero as possible as my net Income Tax. Many people over-withhold because they want a tax refund, which is merely money they loan to the Government at zero interest.