I agree with Jeff and George...It takes time to prepare credit wise (credit re-establishment is very important in this case) and asset wise. Makes sense to go see a reputable mortgage person to see what budgeting you'll need to do to prepare for downpayment, closing costs, home inspections, home/flood insurance costs, having reserves after the closing. There are great books on re-establishing your credit - on how to open new credit cards, like secured cards that get reported to the credit bureaus etc.
Best of luck to you,
Beachfront Realty, Inc.
A couple years at a minimum. It doesn't hurt to speak with a couple lenders during the recovery period, though. Most can do a quick pre-qual free of charge and let you know where you are in the process. My mortgage office even offers a free program to help get you back on track as quick as possible. Call if you're interested. Our headquarters is in Jacksonville.
Jeff Metcalf, REALTOR(R)
Watson Realty Corp.