As Cecilia said, lender want to see 2 years after a bankruptcy for FHA Financing. With Conventional Financing and a Chapter 7 bankruptcy you need to wait for 4 years before which you can qualify for a conventional mortgage. With Chapter 13 bankruptcy 24 months must elapse from the discharge date or 48 months from the dismissal date. These time frams can change if there was a Forclosure, so it is in your best interest to speak with a Lender. The paid collection should also be discussed with the lender that you choose to work with.
Cecilia Sherrard & Andrew Ginter
RE/MAX NE Ohio