Q. When can I purchase another home after a foreclosure?
A. A minimum of five years from the date the foreclosure sale was completed, if you plan on financing the purchase.

Q. Are there any additional requirements after five yeras?
A. There is a mininum of 10% down and a credit score of 680 or greater. Refinancing, occupancy, and various other factors are restricted.

Q. What qualifies me for a shorter restriction period?
A. Extenuating circumstances - a nonrecurring event that is out of the borrower's control. Including but not limited to: death, divorce, loss of employment, or health problems.

Q. How long is the period after a deed-in-lieu of foreclosure before a buyer can be eligible to obtain credit to purchase a property?
A. Four years from the date of the deed-in-lieu. There are additional requirements during the period from 4-7 years after the deed transfer.

Q. How long is the time period after a short sale before a buyer can be eligible to obtain credit for a property purchase?
A. Two years from the date of sale -- no exceptions.

Q. How long is the period after a bankruptcy before a buyer can be eligible to obtain credit for a property purchase?
A. Four years from the discharge of the bankruptcy action.