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I am sorry to hear about this situation. Understand that even though they may be out of business, their loans may have been bought up by another company.
If you feel that the second mortgage may be removed because (1) they company has ceased to exist, or, (2) whatever the company that bought up all the loans is, they will not care to challenge this, then, what someone in your situation wants to do is to file a QUIET TITLE action in Court. A quiet title action is a lawsuit that asks the Court to rule on property, with matters such as contested ownership, easements, deeds, liens, etc. If for some reason the company does not reply (even if they are out of business, there are still ways to serve it, and if their loans were bought up by another company, that other company must be served), then the Court may provide a default judgment in your favor and remove the lien.
The bad news is that this may take a few weeks to push through assuming a default judgment would be received. IF the other company relies, then this would take months to get to trial, and you may lose if the loan is valid.
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