If the secured lien is in first position on the property and he does not pay you, then you foreclose on the property. If your lien is in second position then you "take over" the first. Meaning you also foreclose on the property but you have to keep the first lien current and keep paying that. Assuming that there is equity this can be very lucrative for you. However, if there is no equity in the property then wasting your time and money to foreclose only to have to fund a negative equity property would not be a good use for your money, in my opinion.
Next, if there is no equity you might be able to remove the interest off the property and obtain a deficiency judgment against him directly and this would allow you to garnish wages and perhaps be paid over time based on his income, but at least you would receive your money back, not ideal but it's what I would consider doing. Also, in your state you have a statute of limitations, in my State it's 7 years therefore let's assume he doesn't have "a pot to .... in" he might in the next 10 years and your deficiency judgment will be there waiting for him :)
Since you are asking this question, we all assume that you have not gotten some type of legal representation. I would suggest you first sit down and look at the equity situation first. Look at all the legal expenses and cost of the foreclosure process, and your mental health and decide which is the best way for you to recover your money.
If it can be addressed as a judgement in the divorce it may be better. Like everyone else indicated it would be better to contact an attorney to get your options and risk assoicated with each option.
First Weber Group
Certified Distressed Property Expert
You may or may not be able to foreclose or gain possession of the property unless you have a mortgage on the property or depending on if you are a junior lienholder. Your lein could in fact be worth 0 if the 1st mortgage holder forecloses. There are just so many senarios and situations, you'll need to get directly with an attorney to see where you stand and what your rights are.