Thanks for posting your question and background. Although you cannot purchase at this time due to your score/lending guidelines, do not let that discourage you. Renting is not impossible. If you can tell me the specific area you need to be in, and your price range, I will do my best to see what I can do for you leasing wise. I'm available tomorrow (Thurs. 4/10) to talk, or feel free to shoot me an email if that works best for you.
Also-You can look into some credit repair while you are leasing... It's not unrealistic that in a year's time with the help of working with a lender and credit repair service, you could get your score up and qualify for an FHA loan to purchase a home. I've seen it happen. Just takes time. Whatever you do... Don't get involved with a shady lender who says he/she can get you in a home without the proper score. That is one risk you do not want to take.
Thanks Toby and I look forward to talking with you soon.
You're far better off leasing and increasing your score by taking care of your currently obligations in a timely manner. In this day and age of a sellers' market, your situation would not qualify you to purchase a home. Your time will come ... just not right now. I wish you well.