Harvey while I agree completely with you from a moral perspective. There are a TON of 2nd position companies and even more behind that. The business model of every single one of those companies breaches the 1st positions contract. I dont see that much of a difference between adding unforseen risk to a 1st position deal by taking a 2nd 3rd or 4th, and funding a deal that is in a payment plan for not being able to afford the payments on a first position. All of it is a grey area to say the least, but it happens all day every day. Either hop on the train or watch it pass you by.

On a seperate note I have watched 1st position lenders operate in the shadiest and most greedy ways throughout the last few months. I say this because it now includes companies I would have stated 12 months ago operate beyond reproach.