How do I get a lien released on my home if the 2nd mortgage is no?
One of the legal questions - which needs to be answered by a real lawyer, experienced in Colorado, is about that Statute of Limitations" business. As I understand it, in many places the simple passage of time only ends the ability of the creditor to report a debt. The old debt falls off of your credit report after that number of years (subject to certain laws). But even though it cannot be reported to the credit bureaus, the debt itself still exists; it will continue to exist until it is paid, forgiven, or otherwise satisfied. If this is the law where you are, the fact that the lender did not try to enforce the 2nd lien will not change the fact that it exists. It will remain collectable until satisfied. They just cant ruin your credit score. But lawyers will give better answers than will random people on Quora.