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1st/2nd Mortgage

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  • 1st/2nd Mortgage

    This is somewhat messy, and I don't want to post too much detail but here goes:

    1. Matrimonial home 1st mortgage with say 50K equity.
    2. Ex receives preservation order to refinance 1st mortgage to decrease joint debt, but can't get financing. .
    3. Ex takes me to court for 2nd mortgage. Judge allows encumbrance without my signature to anything. Evidence 36k mortgage app
    4. 50k second mortgage executed. Signs paperwork herself. Joint debt in dispute. Wife later abandons house; stops paying mortgage. House listed but no takers.
    5. 1st mortgage company starts forclosure.
    6. 2nd mortgage company buys out 1st mortgage. How?
    7. Now being asked to sign quit claim deed or else.

    I'm questioning the entire legality of what's being done here. Signatures, preservation orders, encumbrances, foreclosure vs quit claim.
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