You need a min of 3 years after the deed to the property foreclosed transferred out of your name to get a FHA loan. Conventional loan you need 7 years. Send me an email if you would like me to look this date up for you.
I had a buyer that wanted to buy a home in Arizona, but he had a Chapter 7 bankruptcy 7 months ago. After researching the web I found a loan program at http://www.cfsflex.com, they allow a
mortgage after a foreclosure, short sale, or bankruptcy. There is only a six month waiting period. Good to see lending options coming back.
Chapter 7 bankruptcy filers are eligible for a home purchase 2 years after the discharge date.Foreclosures will usually delay a new purchase for 3 years.There are other factors to consider so a lender should definitely be contacted. I use an awesome lender that gets the job done.Let me know if you would like his contact info.Hope this helps.