If you are buying and have foreclosure on record, there's a minimum of 1-3 years waiting period until you can qualify for a loan again. The fastest way to find out is to get you qualified by a lender.
If it has already happened you canâ€™t legally. â€œGo aroundâ€ or â€œwork aroundâ€ are codes for â€œhow do I commit a fraud?â€
NMLS # 6395
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. This answer is my personal opinion, has not been reviewed or approved by the company I work for. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.
If you are attempting to avoid a foreclosure, call a real estate professional to evaluate your options such as HAFA, Deed In Lieu, Short Sale and the end game.
Your agent willl be able to direct you to an attorney who will provide a free consultation.
If you are looking to buy a foreclosure, contact a real estate professional.
Best of success
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
About the accuracy of data on Trulia
If the foreclosure hasn't happened, then talk to the lender. They do not want to foreclose but if you are unreachable, they figure you abandoned the mortgage and this is their only course of action.
If the foreclosure happened already, for conventional loans, there is no going around. You must wait 3 full years. With FHA, they may be willing to approve you but there must be a qualifying "Economic Event" for them to waive the manadory waiting period.