Trust Deed and Promissory Note?

What is the name of your state? Illinois

Any Real Estate Lawyers out there that would be interested in taking a
case worth approximately $60,000 on a contingency basis? Here's the
high level view of what we have. In 1984 my parents entered into a
contract to sell their home located in Glenwood, Illinois. The buyer
showed up on closing day $5,000 short. My parent's lawyer offered to
lend them the $5,000 if they agreed to and signed a Trust Deed with a
promissory note for $5,000 plus 10% interest due the following year.
The maturity date came and went but no payment was ever received. The
Trust Deed / Promissory note states that if not paid, the $5,000 would
incur an additional 15% interest per year until paid. My parents have
made several attempts to collect to no avail and unfortunately, their
lawyer has since passed away. We've been told that the same people
live in this house today and that they cannot sell because there is a
lien on the property. So based on my calculations, the initial $5,000
note would be worth approximately $60,000 today based on 19 years @15%
interest. Please advise if you or anyone you know would be interested
in exploring any possible option to resolve this matter.

Thanks!!

[email]David@Rocketmail.com[/email]


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