Does foreclosure of an owner financed deal affect credit?

[Tyler Carpenter]

Very awesome amount of information in this forum. I just have one question. If you are the buyer of an owner financing deal, and they foreclose on you due to lack of funds on you: does the foreclosure act as a normal foreclosure on a bank. Say for example they foreclose on me, do I have to worry about my credit being wiped out just like I would if a bank foreclosed on me?