At any time prior to the court’s decree, the plaintiff, or a person guaranteeing titleof the plaintiff’s mortgage, may post a bond with sureties to be approved by the clerk and apply to the court to release the claim against the property of any person claiming a lien superior to that of the plaintiff in the property subject to foreclosure. The bond shall be in an amount not less than twice the amount of the claim, and notice of the bond and the court’s order of release shall be served on the claimant. Unless the claimant has appeared in the foreclosure action, the service shall be bypersonalservice. Unless the claimant filesan action on the bond within twelve months fromservice of the notice, the claimant shall be barred from any further remedy. In a successful action on the bond, the court may award the claimant reasonable attorney fees. A guarantor filing such a bond shall be subrogated to any defenses which the plaintiffmay have against the adverse claimant, including but not limited to a defense of lack of equity in the mortgaged property to secure the adverse claim in itsproper priority.
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