Good Morning, We have a Ch.13 filed Jan 2011 approved Aug.2011 Sheriff/foreclosure Aug. 2011 our credit scores are above 630 and w

You have two issues... The foreclosure and the bankruptcy. VA rules require a minimum wait period of at least 2-years after the Sheriff Sale date, and at least two-years after the bankruptcy discharge date. With a Chapter 13, you can potentially get approved if you've had at least one year of on time and successful payments on the debt. For both of those items, VA also allows for an approval between 1 - 2 years if the issues were caused by ACCEPTABLE extenuating circumstances. In 22-years, I have never seen an extenuating circumstance request approved, so it appears your earliest time is November 2013 for a VA loan. Most other loans will require at least three years after the foreclosure.

Most lenders will require three years from date title was taken out of your name not date of foreclosure, regardless of what the VA,FHA or Conventional guidelines say.

Hi, Joe Metzler is absolutely right. I know it's not fun when people say conflicting things but, I can confirm that Joe has spelled out exactly how your profile would be viewed. The only other thing I could add is that while we're looking for the sherriff's sale date --- what we are actually looking for is proof that the deed has transferred out of your name and dates. That is at least what all of my resources look for and most of us, we all use the same outside resources (beyond our own in-house lending). If I can answer any other questions I'd be happy to help. Regards, Kim Lawson, Ohio Licensed Mortgage Loan Originator. Licensing and contact information can be found on my profile.

The BK and foreclosure are separate issues, but when the foreclosure occurs as part of the BK process lenders can start the clock with the BK discharge date and disregard the foreclosure date.