Any chance of approval 2 yrs after forclosure?

[Anonymous]

I really want to buy home again. Due to divorce, walked away from my house in 2010. Checked public records and it didn't actually go back to the bank until June 2015 . 7 years of renting a condo, my credit is great now, stable job, saved money for down payment , only debt is a car payment. I read you can't get approval unless it's been 3 years. I'm so ready to be a homeowner again. Any hope for me this year?

[kc0039]

One more year for FHA. VA will do it, but only if you're a veteran

[VALoanMaster]

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@Anonymous wrote:
I really want to buy home again. Due to divorce, walked away from my house in 2010. Checked public records and it didn't actually go back to the bank until June 2015 . 7 years of renting a condo, my credit is great now, stable job, saved money for down payment , only debt is a car payment. I read you can't get approval unless it's been 3 years. I'm so ready to be a homeowner again. Any hope for me this year?

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Hi Redd89,

It depends. Was the house awarded to your ex in the divorce? Were you late on the mortgage payments leading up to the divorce?

If the house was awarded to your ex, anything that happened after that with respect to the mortgage, doesn't apply so you could be eligible right now for an FHA mortgage.

VA only requires a 2 year wait from the foreclosure date so if you're an eligible Veteran, you could be eligible next month .