You may need to look into private financing. If you plan on flipping the property within a year or so it should not be that difficult. Be prepared to pay a higher interest rate and upfront points.A lender will want to see that you have something into it because they will be concerned about your recent foreclosure though if the propery has a strong equity position it may not be as much down.
Scott is correct, most lenders will require 3 years from bankruptcy and foreclosure before offering financing to you. Northpointe Bank has developed a unique loan product that will permit financing after 2 years from a short sale, bankruptcy or foreclosure. Of course there are rules and guidelines we have to follow, but I would be happy to discuss your situation with you to see if we are able to qualify you for a new home loan.
Julie A. Horvath
555 Metro Place North, Suite 320
Dublin, OH 43017
NMLS ID: 563029