Unfortunately, the payments were supposed to begin three months before the housewarming dinner.
And Daniel hadn’t made a single one.
I’d let the missed payments pass because Eleanor believed he was simply going through a difficult period.
“He’ll catch up,” she told me.
I wanted to believe her.
But after the way he’d allowed his mother to be treated, I began questioning whether our generosity had taught him the wrong lesson.
The next morning, I called my attorney, Richard Hayes.
He reviewed the loan documents.
“Robert, your son is in default.”
“I know.”
“We’ve already allowed additional time.”
“I know that too.”
Richard paused.
“Would you like to proceed with a formal notice?”
“Yes,” I answered. “Follow the agreement and give him the opportunity to resolve the outstanding payments.”
We sent Daniel written notice explaining the missed obligations and the contractual opportunity to bring the loan current.
