I would rather look at this, considering the seller's past history, as a fraudulent sale, predatory dealing and if the same lender was involved a conspiracy to defraud the buyer, that should carry more weight than forcing a sale and paying the outstanding obligation......but that's why the attorneys get the big bucks.All RE is local, it is what the person in the black robe says it is, in a court of equity or at law, which prevails in your state or area???

Those that aren't typically have a secondary (or another primary) income stream.You think raising private money for real estate is tough; imagine trying to get people to give you unsecured loans to gamble!

The transaction into the land trust will fall under "fraudulent transaction" in the law; I know from experience :(Think of the land trust as stage curtain not a brick wall.

This is a gamble because the 3 kids will have a chance to contest her "will," fight for the property, and potentially prolong the probate hearings.I don't know.

It's possible to make money owning condos but it's a gamble.

So basically it would become a gamble that they pay rather than an investment backed by good collateral.

Once you start reporting about credit (which is what you're suggesting), you are also bound by the FCRA (fair credit reporting act) which comes with a whole litany of requirements such as responding to consumer complaints and disputes, keeping accurate records to ensure accurate reporting (this doesn't mean bank statements), and ensuring that any false or fraudulent information supplied to you by a non verified party be confirmed prior to dissemination and removed immediately when found to be incorrect. 

It seems taking a gamble on a property that's not even yours seems to be a high risk financially.http://www.biggerpockets.com/forums/12/topics/380162-went-bankrupt-trying-to-wholesale-heres-my-sage-advice

Mary Jo, Chris, Heather and everyone starting out, should you still decide to continue I bid you the best of luck in the emotional, social and spiritual struggles that comprise the entirety of buy-and-hold real estate investing.Just in case you are still wondering, while your mileage may vary, my tenants are harmful, suppressive, hypocritical, cultic, meretricious, jargon-spouting, harassive, restrictive, destructive, greedy, mendacious, violent, clueless, mind-numbing, criminal, satanic, spastic, secretive, barratrous, demented, loathsome, crazy, evasive, narrow, splenetic, bilious, belligerent, deceitful, cowardly, malignant, devious, stifling, unethical, opportunistic, uncaring, clumsy, clueless, tasteless, malevolent, avaricious, diseased, unsympathetic, insane, contemptible, self-righteous, dim, self-entitled, dystopic, grim, vengeful, idolatrous, flagrant, self-destructive, controlling, deceptive, illegitimate, brain-damaged, socially poisonous, conspiratorial, manipulative, fraudulent, despicable, weird, imbecilic, libelous, fundamentalist, byzantine, abusive and, to any well-meaning would-be real estate entrepreneur, not good.In other words, if you want to invest, you might want to play eenie-meenie-miney-moe with penny stocks or something.

Are you against casinos, because some people get addicted to gambling?