How easy is it to foreclose when selling S2 (Subject to)?

[Lindsey Bodner]

We're considering selling a property Subject to (S2) -- meaning the buyer would pay closing costs and a downpayment, we keep the mortgage in our name, and the buyer would make the mortgage payments and monthly payments to us. Two questions about this deal: (1) Since its our credit on the line b/c the mortgage stays in my name, we'd put a clause in that would allow me to foreclose on the house and get it back fully in my name if he misses two payments. 

Have any of you done this? How expensive/difficult is the foreclosure process in a case like this?

Thanks!!