I had a Bk-7 (2 years ago) and foreclosure (3 years ago). Can I still qualify for a mortgage in Florida?

Possibly.. The waiting period for FHA financing is 2 years for a BK-7 and 3 years after a foreclosure... you would need a minimum of 640 mid credit score, and satisfactory Debt to Income ratios, etc.. But it's possible.. The one caveat here is the foreclosure.. The mandatory 3 year waiting period is determined by when the property was actually taken out of your name.. Some folks tell the lender they're moving out, and the lender takes up to 2 years after that to actually foreclose and transfer the deed.. In that scenario, the clock didn't start until 2 years later, making their waiting period a total of 5 years... search your county records for a copy of the trustee's deed.. That's the date the lender will use for the mandatory 3 year waiting period.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

To fully determine what you may be eligible for, you would need to make a full application and have a credit report pulled to extract actual dates that would be noted for the BK Discharge Date and the Foreclosure Sale Date. Your credit must be re-established and clean of any major derogatory accounts. I'd be happy to look at this in more detail if you'd like as I am able to lend anywhere in the US.

Probably. The waiting period for a Chapter 7 is two years from the date of discharge and three years from the date the property transferred out of your name on the foreclosure. Although FHA says there are exceptions for extenuating circumstances, it is extremely difficult to find investors and underwriters willing to consider anything short of death of a co-borrow as extenuating enough to warrant an exception. Once you know the date the property actually transferred you can calculate when you are eligible. Make sure your credit is in good shape while you are waiting. Frequently I see people with credit still messed up years later because they did not take the time to fix the items that were reported bad. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

We need some more information but you may be able to qualify as long as you have re established your credit, have steady income andno lates since the BK. We will be hapy to help you!Call us or email us at 754-444-1907 or Team@BestMortgageOption.com for ano cost no obligation analysis of your situation.Ask for Michelle or Benny We will find the Best Mortgage Option to suit your needs!You can check us out at www.BestMortgageOption.com

The time frame on the BK-7 and foreclosure is ok for FHA but it really depends on several things like your credit history since the bankrupty and also if your forclosure meets all the guidelines of FHA.

on the forclosure, the time frame starts clicking on not when the forclosure happened, it is when the house was finally out of your name, it can be months apart linda yourloanpartnerforlife@live.com

I have a lender who allows you to buy 2 years after a Ch 7 BK even if you included a home in the BK. You can email me at Kevin@cmpfl.com or call me at 407-718-5588.

Most lenders will not be able to help you for a minimum of one more year. I have a lender who goes off discharge date of your BK not the date the Title was taken back. If you are more than 24 months out from your BK you may qualify. Feel free to email me so we can set up a time to discuss your situation in greater detail. My email is kevin@cmpfl.com.