Can you get a cash out refinance on a new home given to you, if you had a foreclosure on a previous home sheriff's sale 01/2011.

You might be able to get a home equity line of credit if the LTV is lower than 50% but you are probably not going to be able to get a regular mortgage. Typically you are unable to get a mortgage loan for 2-3 years after a foreclosure.

You are probably going to be forced to use a hard money lender until your foreclosure is three years old. The underwriting guidelines are based primarily on credit history and ability to repay, not on equity you have. Hard money lenders work differently. They charge substantially higher rates and fees because they are willing to take on a risk that a traditional lender doesn't want to touch. I would suspect that many of them are hoping you actually miss a payment so they can foreclose and take the home from you. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

first, is the nw home in your name?? why do you need cash out?? what month was the house totally out of your name? that is the most important question.. it can be different than the sheriffs sale date.. linda yourloanpartnerforlife@live.com what type of loan was the forclosed house ??

Conventional financing would put you out 2 years for VA loan and 3Yrs for FHA. In addition, you Fico score will play a factor. There are Private Investors that will look at files case-by-case with low loan to value to lessen the risk and strong ability to re-pay. Probably best to work with a mortgage broker who has more alternative product to offer you if you need private/hard money. jbodway@acceptancecapital.com