The only thing that counts is who is on title. It doesn’t matter who has the mortgage (even though your wife who has the mortgage in her name could sue the other person because she does have an equitable interest in the property).
I’m not an attorney but from what I know, once the lawsuit is filed, there is nothing you can do for “protection”. Anything you do will be seen as trying to avoid the lawsuit. The judge could un-do anything you did.
I suggest you talk to your lawyer to get the best plan of action.