Junior Vs. Senior Lien Holder

[cljinfo]

What is the name of your state?What is the name of your state? MO

Chapter 7 bankruptcy - discharged 01-2001
-included 1st, 2nd, and 3rd mortgages
-after discharge, made arrangements with 1st mtg to bring current so that I could keep my home; 1st mtg is current to date

The 2nd mortgage was bought by a collection/mortgage company. Although I am not legally responsible for the debt, there are four options if I want to keep my home: 1-refinance (I was denied due to credit), 2-pay 25% of the balance upfront and make arrangements to pay the rest, 3-deed in lieu of foreclosure.

I told the company that I am interested in option #3. If the collector decides not to accept, the house may go into foreclosure.

Again, the 1st mtg, the senior lien holder, is current. Since the 2nd mtg is the junior lien holder, how will this situation be handled legally?

I was informed that legally, the senior lien holder must be paid first. How do I make sure that my legal responsibility for the debt ends regardless of if the entire debt is collected (1st mtg)? If I need to consult an attorney, what type should I seek?