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  • lbnc
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How long to wait for FHA mortgage post BK and foreclosure?

Our Chap 7 was discharged in March 2008 and foreclosure was completed in October 2009 (date of trustee sale).  How soon will we qualify for new mortgage.  Our scores are around 650, income $100K and no derogatories since BK.  Thanks

  • December 24 2011 - US
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Answers (1)

The actual trustee sale date, 10/2009, is used as the time stamp to start the waiting period for a foreclosure, which is 3 years for FHA, so you have just under a year more to wait to qualify for an FHA loan.  

I hope that helps, you.

All the best,
Ros

Roswell Moore, CMPC
Certified Mortgage Planner 
  • December 24 2011
  • 1Yes

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