Do you know a lawyer?
I mean as an acquaintance? It may be that Eric just needs to see and read a lawyer's draft of a letter - on official letterhead and in legal terms that he needs to refinance. It may simply be enough to let him know that he has violated your agreement and that "legally" now, he needs to refinance. It is a lot more intimidating arguing with a lawyer (or at least one that "he thinks" he might have to deal with) than it is to give you the brush off!
If that is not possible, I would at least try notifying him promptly of his violation and request that he refinance - perhaps he will!
Why "did" you leave him in control of your financial health?
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