Though on the surface this might appear to be a benefit to you, any underwriter will require a correction/clarification to any mortgage-related derogatory....If a foreclosure/deed in lieu is the correct status, then you'll need to wait 3 yrs to apply for an FHA loan from the foreclosure date...
Since you're stating that you walked away from the home and it was sold in May of 2011, then the earliest you can purchase again (without using a hard money loan) would be May of 2014...
Let me know if I can be a further resource for you!
best, Jeff Marr
If you are asking so that you can qualify for purchasing a new home, then contact a lender and start the process of qualifying for a loan. it sounds like 'the home was sold in May' was actually a short sale, or a deed in lieu...but you'd need to clarify for us in order for us to answer you accurately.
it doesn't cost you anything to call all of us and discuss this in detail to obtain more specific discussions on your personal circumstances. We don't have enough to answer from the information you provided.
But from the current reporting Amanda, you can qualify for another mortgage in May of 2014 if not earlier.
I am an attorney and real estate broker and I specialize in short sales and foreclosures. If you would like me to give you some FREE advice I would need to get some more information from you to fully analyze the situation. Feel free to call me when you get a minute at 916.442.6400. TED