Is this note fraud?

[Robert Howell]

I bought a non performing note in Kansas City. It is an institutional note that was originated in 11/2006. Next payment due was 1/2007. This was an investment property. I believe the borrower cashed out the property. The property was purchased in an LLC, but the note was taken out in the borrower's personal name.

The investment property is virtually worthless but the borrower’s personal residence, in California, is worth 7 figures.

The problem is that four months after the funding of this note,the borrower, in 3/2007 put her personal residence into a family trust. That property has lots of equity.

Can I go after her family trust to recover the unpaid balance or has she been able to circumvent her obligation?