There should be a template form somewhere that just releases the second tenant from the lease.

From an investor point of view, cash buyer would tie up capital for an extended period of time while they deal with their 'involuntary partner' co-owner.

By taking a smaller loan balance than your original mortgage amount for a new 30 year term, you reduce your payments and extend your time in debt.  

Don't give too much extended time or favors.

I would imagine both positions were stayed via the bankruptcy and neither got a release and pursued collections during or after the BK plan completed (if it did).  

Atlanta market was in the top 10 markets in the country last year based on the recently released BP index.

That would get you back on track for re-leasing during higher demand periods.I've done that in the past: 6m lease with Dec 1 move-in, then rent raised back to what I'm looking for on the July 1 renew.That said, 1 week isn't long.

The city is currently doing a parcel survey to put eyes on every piece of property in the city (may extend to the rest of the county).  

I wouldn't say that 1st lien holder is obligated to, however to convey a clear marketable title, 2nd lien must be released from title, therefore it's in everybody's best interest that the two are able to come to terms. 

Other factors you should add to a move relate to family, if you are going to have to fly vs drive back to extended family those costs will be extra.