I don't qualify for a mortgage, now what?

In the current financial climate, it's getting more difficult for buyers to obtain mortgages. The lending requirements is such that if you don't have close to a perfect credit score and no debt, you can forget about getting a conventional mortgage. What can you do? Go to a hard money lender and pay through the nose? Rent forever? Pay an ever increasing rental rate? All the money you pay towards rent is gone forever. No tax deductions, no equity building, no wealth building, nothing. A possible solution for some buyers and sellers will be seller financing. Provide a mortgage note for potential buyers using the property as collateral. Charge a minimal interest and a lot more potential buyers will become homeowners. If we adopt this on a major scale, maybe we can entice more potential buyers to start looking for homes and help stabilize the real estate market. Limited credit, no credit, no problem, if you work you can buy a home should be the new slogan!