Contact the state department of finance, lending regulators and bring up the issue, they can remove anyone with a fraud conviction out of any financing/lender operation, or make them wish such folks are not involved in management.Get the facts and present it to the city, they probably don't know.

This is tightly regulated as well.

Too regulated, you'd need financing broker/dealers, legal and accounting which will lead to more brain damage in engineering and marketing, doing a $10,000,000 project, okay, anything less, keep it simple.

With some of the provisions of mortgage regulation it is purposely making it hard to lessen those time frames.

You need a license in Mo. if you manage or facilitate any sale or lease for an owner.If you own the property you will not need a license.Mo. is not really agreeable to the equitable interest angle, doing one deal will slide by, doing 20 deals you will be seen as being in the business and doing contract to circumvent law.All RE is local, you really need to look at what is customary in your area before leaning on strategies passed out on forums.Sandy, you are in Jeff City, the state regulators are just down the street, I'd pay real close attention as to what is expected in the neighborhood.I suggest you ask a local attorney as they will certainly know how such is viewed in that jurisdiction. :)

The Department of Professional and Financial Regulation is always happy to answer a question rather than have to investigate you.

Under state law, at 20% equity, you would have to foreclose on the borrower and would not be able to use land contract forfeiture provisions (more like an eviction).Oceans of ink have been spilled here talking about the SAFE Act and Dodd Frank regulation that seller-financers have to abide by now, and the implementation varies by state, and there is still lots of ambiguity in how it will be interpreted and enforced.

No sense incurring additional regulations and potential liability on related, but separate businesses.

Regulations for note/mortgage servicers just to your north in NC (and probably for SC as well) are a lot more involved.

They, like Joe I suppose, guessing, that they may do anything they like, however just because they aren't under some ruling or regulation to take certain steps, they can certainly be sued in court for taking a windfall for more than they were owed, plus costs.