The best way to get your house back after foreclosure is to have a 3rd party investor purchase the property at a big discount from the bank, and lease it back to you with the option for you to buy it back at the fair market value when your credit has recovered from the foreclosure.
The time frame used to be 2 years of good credit after a foreclosure, and you get get a home loan again. But those loans went away when a lot of good banks went down. You may have to wait 4 years before you can officially buy your house back.
But in the mean time, you could actually be living in your home again, but renting it from a different owner, with the intent that you get to buy it back someday. (In reality, isnt that what we all do with a bank financed home? They own it, while we make large interest payments, aka rent, until 30 years later it's paid off?)
So, here's the trick...
It's now on the market to every Jim and Jane who's in the market for a house. And there is nothing we can do to stop them. Therefore, you need to find someone fast. There are plenty of companies that invest in real estate and lease option to tenants. The trick is to get this house in front of them and make it very attractive from an investor's perspective.
Investors like homes cheap. They like them discounted. They like them in good shape. They like them in good areas. They like to rent them for top dollar. They like to know it will always stay rented. And they like to know how long until they have all of their money back.
If you can show that your house has a current value of X, and one could speculate that an investor could buy it for much less, even less than its listing price, then you have a good start. Then, take that number and muliply it by 1%. That will be your rent. You would promise to buy the house back as soon as you could for its future value when you excersize the purchase.
There are several places you can shop it to if those preliminary numbers check out.
Let me know if I can help after you have thought this over.... more