As corporatejay said, it depends on the size of the mortgage. Yes, a mortgage is a secured debt, but if the value of the security is $1,000,000 and the balance of the mortgage is $200,000.00 you would have debt, but not be in a position of debt. I would not consider someone who has the sort of financial portfolio such that they often borrow money at low interest rates to invest with the expectation of a higher rate of return to be "in debt", notwithstanding their loan is a debt.
Conversely, those of you who have zero equity in your homes and have unsecured consumer debt both have debt and are in debt.
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