Q: My son and daughter in law signed a financial agreement to repay me $150000 over a period of 20 years.
They have not made any payments, what can I do, they live in Boston. The note says that the house that they purchased from me is security for the loan. I am 72 and need the money to live on.
A: If the note you hold is also secured by a properly recorded mortgage, then you can foreclose. If there is no mortgage then the only recourse would be to sue them for default of the loan. You should hire an attorney either way.
A: If you have a mortgage on the property you can foreclose, if not you can sue them for repayment and attach a lien against the home.
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