For those looking for a short-term injection of cash, for those 55 and over looking for extra income and who are planning on living in their homes for many years and are less concerned about leaving a legacy, it could be an avenue worth exploring. Other options include a line of credit or downsizing.
2017 FHA Guidelines. 1  Bankruptcy â You may apply for a FHA insured loan after your bankruptcy has been discharged for TWO (2) years with a Chapter 7 Bankruptcy. 2  Foreclosure â You may apply for a FHA insured loan THREE (3) years after the sale/deed transfer date. Short Sale / Deed in Lieu â You may apply for a FHA insured loan THREE (3) years after the sale/deed transfer date. FHA treats short sale, deed in lieu and foreclosure as the same waiting periods.
With the FHA Back To Work Program, how soon until I can buy a home after foreclosure? Via the program, you can buy a home 12 months after a foreclosure. With the FHA Back To Work Program, how soon until I can buy a home after a short sale? Via the program, you can buy a home 12 months after a short sale. With the FHA Back To Work Program, how soon until I can buy a home after a deed-in-lieu of foreclosure? Via the program, you can buy a home 12 months after a deed-in-lieu of foreclosure. With the FHA Back To Work Program, how soon until I can buy a home after Chapter 7 bankruptcy?