How to use a 2nd mortgage?

The question remains, that why on earth would somebody want to risk their home with a 2^nd mortgage?? I mean, this is insane.

These types of loans are appropriate at times when you need a lot of money at the same time; when you find that your credit cards are of no use, and collecting cash from here and there would not help at all. So, what is it that you have which has the maximum equity value? Your home, of course. By borrowing against a home, borrowers may get bigger loans. On top of that, borrowers consider it safe to lend money against a property.