First of all your best person to talk to about this is a mortgage broker. They have experience in this that will help you layout a plan. I can tell you that the general rule for a BK &/or Foreclosure is 3 years from when they were discharged, not 2 years. So, talk to your lender and see what they think about your specific situation. Best of luck!
Rick Musto, Managing Broker
Buckhead Home Realty