1st & 2nd DOT
Live in Calif. divorce final in 60 days. I got the house, wife got the 2nd mortgage. 2nd mortgage is interest only payments until 2011 then a balloon payment of $60,000 due.
Question:(s) Can I have wife sign quit claim deed and take her name off DOT on 1st mortgage. Do I remove my name off 2nd DOT.
When Judge ordered wife responsible for 2nd he put in a hold harmless clause what does that mean to me. Any thing I need to know other than if she default on 2nd they could very well force me to sell home.