In 2012 foreclosed in mn when can i get a new mortgage on a home?

If it was documentably due to a job loss, you do 1 hour of HUD face to face counseling and meet the other basic FHA requirements,... Then you could do it now.

Www.charlesdailey.com

Generally speaking, figure three years from the Sheriff Sale date. There are a few exceptions... they are pretty touch to get. So be sure to run your exact situation past a licensed loan officer. In MN and WI, visit www.Minneapolis-Mortgage.net

FHA currently has a 3 year minimum waiting period, but that waiting period is reduced to 1 year (FHA's Back to Work Program) so long as you can prove you suffered at least a 20% reduction in income and it was that reduction in income that resulted in your foreclosure. Your scores would need to be in the 620 to 640 or higher range, and you cannot have any late payments on ANY obligation in the last 12 months.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

1 year after the date the deed transferred if you can prove a loss of income and 6 months of continuous unemployment. Give me a call: 612-414-7728 is my cell; 952-544-1706 is our main line. Or, you may submit your application via our website at www.satorimortgage.com

Depending on your situation you may be able to qualify for a new home in as little as 1 year if there are extenuating circumstances. You can read more about the Back to Work Loan offered by the FHA here... http://www.newhomemortgagemn.com/fha-approving-home-loans-as-soon-as-1-year-out-of-bankruptcy-or-foreclosure/If that doesn't fit than you would be looking at a minimum of 3 years with the FHA and longer with other programs.

At least 36 months, and slightly longer if it was an FHA loan that foreclosed, and you apply for another FHA loan.

As someone else mentioned here, you can generally buy another home if you can show a detailed hardship. It's not an automatic approval either and a divorce or separation does not count as an extenuating circumstance. You have to show a clean credit history for the prior 12 months and attend HUD counseling as well.

Unless you can clearly link the foreclosure to a job loss you'll likley have to wait 3 years from the date the foreclosure was completed as reported on your credit report. If you are eligible for a VA loan, possibly sooner as long as the last loan was not VA. If it was FHA and the previous loan was not paid off through the foreclosure you may not be able to get another FHA, VA or other government insured mortgage.