loan to a relative .

[James Jordan]

hi all my first post have been looking a while to , so much to learn here and i am looking for some help , here goes stupid really but i lent $110,000 to a relative who is an active realator for six months at 5% that was over 2.5 years ago , and no repayment and it gets worse , i now know they are underwater on there home by 200,000 or so and i am also aware that there is also a second mortgage which may be a private deal, bank is in court trying to get possesion , there are also other debts which debt collectors are trying to collect so a pretty big mass they are in , and i am also in , we have had lots of promises etc , the property is a farm and the mortgage is against the house , barn and 8 acres , my loan has been secured against 27 acres of farmland [horses] and i am told had a 2009 valuation of $175.000, this land has no mortgage , but it also has no road acces , only access is through the farm , but i am told there is a local law of access granted through continued usage , as you can see i am thinking worse case scenario now , long first post sorry . jim