You will still be judged on your own credit worthiness, will need to personally guarantee the loan, etc. 

It depends on thousand different things . scale , type of payment , terms , availability , your business case , your credit worthiness , sellers need , buyers knowledge and viceversa buyers need , sellers knowledge .I can write a book on the price differences. 

They do look at your credit worthiness and the deal, but a lot of weight gets put on the quality of the deal.

Credit worthiness of borrower?

Only when consumers unable to obtain home loans start to complain en mass, AND the liberals first choice of having the Government give them loans out of the Federal Treasury is shot down, will the legislation be somewhat modified to bring credit for less creditworthy borrowers back into the market.

It also hurts the creditworthiness of the bank which could lead to banking regulators intervening with the banker's portfolio of loans.

Still, there are disadvantages that may prevent a buyer or seller from signing on for owner financing.Advantages for BuyersCan provide access to financing that a borrower may not otherwise have qualified forEnables buyers to finance homes that don’t qualify for conventional financingLets buyers and sellers shorten the due diligence period for quicker closingReduces the cost of closing by eliminating appraisal costs, bank fees and—if the buyer so chooses—inspection costsEliminates down payment minimums imposed for government-backed mortgagesAdvantages for SellersAllows owners to sell their property as-is, without having to meet a lender’s appraisal requirementsPresents an investment opportunity with better returns than most traditional investmentsShortens the selling process by reducing due diligence requirements and eliminating the lending processStill offers the ability to sell the promissory note to an investor for an up-front paymentLets sellers retain title to their home—as well as money paid toward the mortgage—if the buyer defaultsDisadvantages for BuyersOften involves higher interest rates than a traditional mortgageMay require borrowers to make a balloon payment at the end of the loan termDepending on the borrower’s creditworthiness, the seller may not be willing to provide owner financingSeller’s mortgage may include a due-on-sale clause that requires them to pay off the mortgage upon selling the house, thus precluding them from offering owner financingDisadvantages for SellersExposes sellers to the risk of non-payment, subsequent default and—in some cases—a need to initiate the foreclosure processPuts seller on the hook for repairs and other consequences of deferred maintenance if the borrower defaultsFederal law may preclude sellers from offering owner financing, limit balloon payments and require the parties to involve a mortgage loan originator.All the best!

Everything you do until you become credit worthy will be impacted significantly by your decision to wait and allow the lender to foreclose.

You told me earlier that you were two payments late on your mortgage; being late on a mortgage payment, as you know, lowers your credit worthiness.

You told me earlier that you were two payments late on your mortgage; being late on a mortgage payment, as you know, lowers your credit worthiness.