The U.S. Department of Housing and Urban Development (HUD) recently announced the â€œBack to Work â€“ Extenuating Circumstancesâ€ program, aimed to help people who have lost their home through foreclosure, short sale or bankruptcy. HUD has reduced the previously required minimum of 36 months to 12 months before they may be able to finance another home, given that they meet HUDâ€™s minimum eligibility requirements.
I can get you started atleast on the path to get there.
CFS Mortgage assists homeowners who have recently been through a foreclosure, short sale or have recently emerged from bankruptcy.
The down payment should be sufficient for FHA financing as it only requires 3.5% down.
Assuming you have no other debts on credit and a housing payment of 1400.00 your housing expense ratio is around 40% which is doable.
Your credit score will need to be higher, however more than likely there are immediate measures you can take to driving your credit scores up.
I would be more than happy to help you further, if you like call me at 407-744-5244 and we can discuss further options.
The short answer is yes but it depends on the specifics - what type or bankruptcy was filed, what credit was re-established since then and how you've paid on that and the type of property and loan program.
It's likely you will have to wait given your credit score.