I have a promissory note that’s due at the end of July.
It’s secured by a deed of trust on the borrower’s home.
I suspect that my money may not be paid back on time and I won’t extend the note.
What are the steps I should take in advance in order to protect myself?
Can I make the borrower put his house on the market right now?
Depending on the state you are in, trying to foreclose on them may be difficult, costly and time-consuming. Are you in 1st lien position? Maybe you would like to sell your note? Just a couple of options for you. If you think you want to hold onto the note and get all your money back you may want to contact an attorney and see what your options are. If you are interested in selling the note let me know.Good luck.