I don't really feel that it would help your credit.

You may want to instead consider getting a mortgage professional that can do a rapid rescore for you. It is fairly inexpensive (maybe $60) as well as fight some credit challenges that are on your credit score. There are professionals at this and then there are non-professionals.

Once your credit score has rebounded, may just take a couple of months, you may then be able to qualify for a FHA or VA (if you have been in the service) loan. The credit requirements are not extremely high. You will have a terrific interest rate and low down payment.. FHA requires 3 1/2 down towards your purchase. VA is a 100% financing. Also, in some areas there are Rural Housing Loans offering 100% financing. Please let me know if you would like a referral to a terrific mortgage broker. Thank you.

Please let me know if you have any other questions.

Warmly,
Stephanie LeFew
Tampa Florida Realtor Pro
813-624-3332 cell
813-991-1355 home office http://www.TampaHomeBuy.com

There are not many owner financing options out there. You are also correct in assuming it won't do much to improve your credit because most personal lenders don't report to the credit bureaus.

If you woud like I can give you the name of a lender who will be realistic with you about getting financing. He can also give you some practical advice about how to repair your credit scores. Contact me if you would like some referrals.

Marilyn