New FHA loan after foreclosure - waiting period???

Hi Lisa,Based on this sentence, however the insurance payoff wasn't posted by the bank until nearly a year later, It sounds like you're in the CAIVRS system which makes you ineligible for most government backed loans like FHA, VA & USDA mortgages. That doesn't mean you won't qualify for a conventional loan despite what Greg said. The actual Fannie Mae guidelines only require a 2 year minimum wait after a BK with extenuating circumstances just like FHA only requires 1 year with extenuating circumstances.Please feel free to contact me for more information or help. John Burke - Senior Mortgage Banker - Lending in ALL 50 states - Great Plains National Bank - 877.228.9069 - NMLS# 787231

Lisa, There is a seasoning period after a BK or foreclosure, if you would like to give us a call we can go over the information on time frames. Creekside Mortgage, Inc. NMLS#70358 Call us at 800.920.5420

Hi Lisa,Since we allow foreclosure bailout and bankruptcy bail out. We could proceed in helping you out. Please do give me a call 877-877-1477 ext 207

I have seen this issue with other clients; the bank list a date well past the foreclosure date of when you signed. You have have to call the bank to see if they will work with you to update the dates they are listing to the credit companies. Other then that you will need to work with the investor guidelines.

There is a waiting period and it is tough to get around this. You may have some options. I would need to get more details to figure out if we could put something together for you.Derick Condrondcondron@rightstartmortgage.com

For a new FHA loan, if the old loan with the foreclosure was an FHA loan, the rules require you wait at least 3-years past the date FHA paid the loss to the lender. If the old loan was NOT an FHA loan, then it is just a straight 3-year wait past the Sheriff Sale date. Generally it is just a month or two afterward for FHA to pay the loss, but it is not unheard of for it to be as long as your experience. So if you had an FHA foreclosure, and want a new FHA loan today, there is nothing you can do except wait. For FHA loans in MN, WI, and SD, visit me at www.JoeMetzler.com