How do I forclose? SCB note California property..

[Tony F.]

I sold a property beginning of last year. Received about 50% down, remaining 50% seller carry back in 1st position, structured into 3 equal balloons (due after 3 months, 9months and 24months), Interest accrued and paid at time of 1st and 2nd balloons then paid monthly for period after 2nd balloon.

Buyer paid 1st balloon and interest.

Buyer paid 2nd balloon partially (short about 100k including interest), now we are 7 months past that due date...

No interest has been paid since.

Can I forclose now? How do I do it? My attorney saying I need to file some notice to buyer 150days before the balloon is due stating upcoming balloon, and that since I didn’t do this, I should do it 150days before next balloon is due, then if he still hasn’t paid forclose.

Seems odd to have to wait until he misses another balloon, especially since he isn’t making interest payments monthly as agreed upon... there is plenty of equity now in the property to pay off not due to me.