I (regretably) made loans to a friend over the course of the last 5 years. The loans were used as downpayments on several different properties. My friend is now in financial trouble, and I need to secure the loans. What are my options in placing liens on the properties? Here are some of the facts:
1) There are no written contracts but I do have canceled checks from the loans and payment history over the past 5 years. Bank statements will show payments being made monthly from my friend's account to mine.
2) One of the properties was sold recently, but the loan I made on that property was not paid back. I originally loaned the money for the down-payment. Can I put a lien for the outstanding amount onto a different property that she still owns?
What's the right course for me to pursue? What type of attorney can help me?
Thanks for any guidance.
1) There are no written contracts but I do have canceled checks from the loans and payment history over the past 5 years. Bank statements will show payments being made monthly from my friend's account to mine.
2) One of the properties was sold recently, but the loan I made on that property was not paid back. I originally loaned the money for the down-payment. Can I put a lien for the outstanding amount onto a different property that she still owns?
What's the right course for me to pursue? What type of attorney can help me?
Thanks for any guidance.
