Quote Originally Posted by Jeffski
Or you lose your job, can't pay the loan, and lose your house too.

I am not against borrowing money, but when you do make sure you can pay all your bills even on your worst day.
Sure, I guess. But to be honest I doubt that a bank on a 3rd mortgage would rather foreclose your house than give you a bit of time off to regroup and find another job. By the time they sell your house and pay off your first and second mortgage, little if anything is left for the 3rd mortgagor.