Hi dcrealty. The reason you may be having a tough time finding a lender right now is that the credit report is reading that your BK was discharged in January of 2011 - it doesn't know if it was January 1st or January 31st. So during this month when they run the credit report, and the automated underwriting approval, it will come back with a decision saying "Refer", meaning the loan has to be referred to a human being underwrite to approve it rather than being approved through the automated underwriting system. So while technically you may be past the 2 year mark that FHA requires on a Ch 7 BK, the way the credit reporting & automated underwriting systems are set up, it won't recognize that until February 1st. I am helping another client now who was in a similar position, their Ch 7 BK was discharged in 12/2010, so we had to wait until January 1st to check credit & run the automated underwriting approval and everything turned out fine. Most loan officers don't realize that, so they will try to get an approval now and they'll get a "Refer" response, not realizing what the issue is. If you'd like I'd be happy to review your situation now to make sure your debt to income ratios would be OK, but we would want to wait to check credit until February 1st.
Shane Milne | Lending in all 50 states | NMLS #81195