Trust me I have been there and done that and wasted a ton of money.

The extremely successful "ol time" real estate investors that I know have become rich because they are the working their butts off during the "hard times" of the market.

I would absolutely take over a house with little or no equity and stick it in a land trust depending on a couple of things:1.

Some areas are extremely difficult to sell retail because of competition from REO properties.

In all seriousness, no there is no need to go to extreme measures.

If the property were placed into an Illinois land trust, with a neutral party as the trustee, you could set up an occupancy agreement where #1The existing owner keeps his financing in place.#2 you have almost all of the rights as a homeowner (tax deductions, rights to dispose of property etc.)#3 the only way you can lose the property is if you do not make payments (at which point you either pay off the property or it goes back to the original owner.)#4 properties in a title holding land trust are not subject to the Due on Sale clause found in all mortgagesTo help the seller have more confidence in you, you can place say 3 months payments with the attorney/company that is the trustee.

Not sure I'd really trust mailing a payment to a old location.May well be Lehman is still handling your student loans.

Let me quote it:< Now we are trusting the economy of our country to a pack of nit-wits who couldn't make money running a whore house and selling booze?

As a business professional, I consider myself extremely dedicated to community development locally as well as across the US.

I can't really see bringing manufacturing back, mainly because we are used extremely low cost of goods and nobody will work as cheap as the Chinese, Indians, etc.However, I do see America creating a totally new mini economy like we did with the Internet.