The problem is that the proposed first and second mortgages are in two different "risk pools"- they have to make a conservative first mortgage loan, because those loans have to conform to standards to "package" in groups and sell to conservative investors on the secondary market (through Fannie Mae (Federal National Mortgage Assn)). Second mortgage is sort of "granny bar the door" (anything goes), and is sold to investors who are greedier and want higher return. In considering the size first mortgage they will give, they are (in your case) comparing $900 to $750, and couldn't care less about the fact that your overall payment will be higher, because their first mortgage is "senior" (recorded before) the second. If you don't perform on the first, they'll foreclose out the second, and if you don't perform on the second, its not their problem.
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Today's Featured Article - Talk of the Town: What's The "Stuckest" You've Ever Been? - by Edited by Kim Pratt. Another great discussion from the Tractor Talk Discussion Forum. The discussion started out with the following post: "I was about 14 (part of the problem) when I got stuck. I was disking with a cab equipped IH 966. The window was dirty and I was driving into the evening sun. It was hard to see and it was my first pass down the field. I got the tractor so stuck that the underside of the tractor was resting on the ground. My uncle wanted
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