-VA - 2 years
-FHA - 3 years
-Conventional - 7 years
Make sure you check when the property deed on the foreclosure transferred out of your name. That is the date from which the timelines begin. Contact me if you want me to look up that deed transfer date.
My current lender of choice is requiring 3 years from the foreclosure date.
I know there are exceptions to this rule.
Additionally it is important that you continue to pay your bills on time.
Lenders may be able to accept a buyer with a previous foreclosure but not too many will accept a forclosure and late and missed payments thereafter.
Since I am not a loan expert I always refer people to my Lender of choice he provides the best information for each specific situation.
Please feel free to call or email me if you would like his contact information or if you have any questions.
Real Estate Agent
That means paying down your outstanding balances, paying on time, for starters.
Here's a good blog about this situation http://www.houselogic.com/articles/5-steps-owning-home-again