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Loan in AZ for good credit but recent foreclosure

I have a credit score around 688. I foreclosed on my house and it will be 2 years in May. I have excellent income. I am looking to buy a home and looking for broker/mortgage company who can offer me loan. by amol_m_805_694 from Glendale, Arizona. Mar 15th 2013 Reply


Charlie Sparks (CharlieSparks)
#8 ranked lender in New Mexico - 401 contributions

You will be eligible for and FHA loan after the foreclosure is 2 years old and, under certain circumstances, a conventional loan. My co. is based in AZ but since I am only licensed in NM I suggest you contact Rocke Andrews, (520) 323-1368. He can work with you to get you approved. Thanks and good success to you!

Mar 15th 2013
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Joseph Afonso (jafonso)
#64 ranked lender in Arizona - 197 contributions

We have programs that allow you to finance two years after a foreclosure. We are a local Mortgage Banker located here in the Valley and I am licensed on AZ. If you would like to discuss your options give me a call at 6025317040.

Mar 15th 2013
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Joseph Afonso (jafonso)
#64 ranked lender in Arizona - 197 contributions

You will be eligable to quality for some of he programs that we offer at Peoples Mortgage Company we are located here in the Valley and I am licenced in AZ give me a call 602-531-7040 and we can discuss your options.

Mar 15th 2013
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Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions

You caused a mortgage lender a loss. No new mortgage lender is super excited to lend to someone like that anytime soon. Generally speaking, all your traditional mortgage loans will require a minimum wait period of three years. There are a few exceptions, but 95% of the time 95% of the people need to wait 3 years. IN MN or WI, call 651-552-3681 for more info

Mar 16th 2013
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Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions

The 2 year wait period usually starts from the date of sale of your foreclosed house. At that point you should be able to qualify for an FHA loan as long as all other requirements are met.

Mar 16th 2013
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Jason Robinson (CFIsupport)
#56 ranked lender in Georgia - 106 contributions

2 Years for most Gov't loan programs.

Mar 16th 2013
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Raymond Denton (Raymond)
#10 ranked lender in Ohio - 224 contributions

The waiting period for FHA and VA is 3 years.

Mar 16th 2013
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I am confused after reading your reply.. is the wait period 2 or 3 years from the data of foreclosure?

Mar 16th 2013
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Raymond Denton (Raymond)
#10 ranked lender in Ohio - 224 contributions

With FHA and VA, it works like this for bankruptcy and foreclosure - the waiting period is:1 year from filing date for chapter 132 years from discharge date for chapter 73 years from recording date for foreclosure

Mar 16th 2013
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Dave Metsker (DaveMetsker)
#35 ranked lender in Oregon - 2,318 contributions

Most programs require a wait of 2 years after a foreclosure.

Mar 16th 2013
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