Bankruptcy Law Questions? Ask a Bankruptcy Lawyer.
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Would you agree that this is a likely course of action that may be favorable for me?
Response 1: Regrettably, no.
I can also provide documentation to the judge that I have attempted to contact the 2nd lienholder, suggested refinancing into a consolidated new first with a principal reduction to the existing second but have gotten no responses. What are your thoughts to the quiet title action?
Response 2: Quiet title action would not be favorable to you. The Statute of Limitations on a debt deals with the time a creditor/collector has to file a lawsuit to collect on its debt or forever be barred from bringing up the lawsuit. The Statute of Limitations does not mean that the creditor's lien is no longer valid because the creditor can no longer file a lawsuit to try to collect on the debt. The lien must still be paid off before it can be released from the property.
I am sorry that I do not have better news for you.