Ugh - I did it -- lent money so a family member so he could avoid paying mortgage insurance (yes, it was quite a large amount). I was assured that the money he saved (over $600) would be reimbursed to me, at $600/month. In a year and a half I have received maybe 2 or 3 payments, yet when I mention it, the borrower flies into a rage, brings up every mistake I have ever made, tells me about my numerous character flaws, and then tells me how horrible I treat him. It makes it very difficult to broach the subject of the loan. Any ideas on how to get him to start paying me back? I'd like to suggest a monthly automatic payment to an account I set up, but I suspect I will get an earful of excuses and more insults. He should have over $600 a month extra, because of the lower mortgage payments, so I don't understand why he won't pay me back. He led me to believe that he is good at managing money, but now I am not so sure .....
I am wanting to buy a house so I really need the money back. Please don't tell me what an idiot I was for lending it -- I know that already. I trusted him and believed him when he gave the detailed plan for paying me back. (Yes, that also makes me an idiot, as does the fact that I did not ask him to put anything in writing.)
:-(
I am wanting to buy a house so I really need the money back. Please don't tell me what an idiot I was for lending it -- I know that already. I trusted him and believed him when he gave the detailed plan for paying me back. (Yes, that also makes me an idiot, as does the fact that I did not ask him to put anything in writing.)
:-(