Hi Brandon, Being on the other side as a student loan recipient, the biggest disqualifier that comes up is if they defaulted on their loans. 

The thing about these rules is that such contracts will default to a sale unless it can be shown that there was no intent or ability to sell at that contract date.

You provide protection for the land purchaser by allowing him to step in if there’s a default on either the mortgage or the land lease.

They reaffirmed that a lender is Not barred from refilling a foreclosure, or filing an initial foreclosure, more than 5 years after original default/acceleration.  

If they default then the service co would deal with it, and if they decide not to buy after x amount of years they are not obligated.

I can also see that the lender has been served a notice of default.

I have two notes in default.

I understand the sentiment of having a written contract but it really does not make a bunch of difference here.. a default is a default.. you have to litigate it if you have a written contract and you have to litigate it if you don't... so don't get to beat up about that part .. of course its best to have. but its not the end of the world. 

I've also only been working for a short time (3 months).Having said that, i have a good credit score, no debts / defaults and a reasonable amount of cash. 

You are in default of the contract and that is why the broker is not acting aggressively to pursue the EMD.