Actually, you might want to start in 2/13 in case there are letters and documents that will be required to get the financing. You'll want to make sure that you tell the loan officer that the foreclosure was included as part of the bankruptcy.
FHA wants you to have lots of cash in your pocket at close, not towards the down payment. Minimum is 3.5%.
The 3 year period, I believe, is based on the foreclosure date, not the date sold. Don't bring that up.
The letter will simply state that a condition of the loan is that closing must occur after such date that 3 years passes.... more
The real question is a bit different. IS new construction selling there or not? If new construction is selling well a contractor could be looking for more land to develop. If new house sales are not happening it is very unlikely.
There is one other possibility. If the 2 homes are horrible, but have good well and septic you could call the fire dept. Have them practice and get rid of your houses that way. Then drag in a trailer or double wide. You now have 2 sellable properties. It is a bit of an expense and a gamble, but could be a workable plan.... more