Legal Question in Credit and Debt Law in Illinois

Re: Large cash loan to a family member.

Your best bet, especially considering the fact that you are financing a "failing mortgage business," is to keep your money in the bank. Otherwise, no matter how you attempt to ensure repayment, you are likely to be dissappointed. You can have a perfectly constucted promissory note, even with a mortgage against her home. However, if she doesn't pay, are you going to sue her or foreclose your mortgage? If that's not something you think you would do, either don't give her the money, or consider it a gift and hope you might be repaid someday.