I took it out today!!!!
Man, I couldn't be happier....

Anyway, just so that this thread doesn't go to waste, here's an advice to all who by some misfortune will end up in the same situation. FORGET EASY OUTS!!!!

The ONLY way to do it is to properly drill out the remains of the old bolt, then clean (rethread if necessary) the threads and install a new bolt.

I used a Black & Decker (Walmart) 18 V drill and although it doesn't seem to have great torque, it did a very good job. I also used Cobalt bits (these are incredible) and a 3/8-16 tap.
I started with a center punch to make a guide for the bit, then I used the smallest bit available in the kit I bought (DeWalt Cobalt bits) to make a guide for the larger bit. Then I went to a slightly larger bit, then I went to a 1/4 bit all the way through the bolt, then I used a 5/16" bit. Finally, I used a tap which rethreaded/cleaned the threads and reached all the way up! Success!

 

Forgot to mention.... the starter bolts are Grade 5 bolts.
That could be one of the reasons it broke so easily, but at least I got lucky that I didn't have to drill out Grade 8s. (that's what the new bolt is)

 

Was there a bolt already broke off in it??? or could you not tell from drilling it out. but anyways glad to hear you got it fixed.