Time to qualify after Chapter 7 and a short sale

[copaaz2010]

Hello,

I am wanting to know what the general time frame is for me to qualify for a purchase of a house. I completed a CH7 last year, was discharged in 12/10. Did not re-affirm the house. Just completed a short sale on the house and am currently renting. I'm estimating the timeframe to be 2-5 years before I can qualify for a house but would like to know a more definite answer. i have already begun to rebuild my credit and at 690 score.

[Cat Damiano]

Hi copaaz2010,


Welcome to the forum and thank you for joining..........

For a conventional loan these are the most recent guidelines:

https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2010/sel1005.pdf

For FHA:

http://www.fha.com/fha_requirements_credit.cfm