I have some questions regarding foreclosure, bankruptcy and seasoning time for a new mortgage. Here is my situation.
My boyfriend received a chapter 7 discharge February 1, 2010 and foreclosed May 1, 2010. I received a chapter my chapter 7 discharge August 31, 2011. If I foreclose we have to wait 3 years from the foreclosure date with extenuating circumstances for Fannie Mae and Freddie Mac. If I give a deed in lieu I believe that it is 2 years and 10% down with extenuating circumstances for Fannie Mae and Freddie Mac which means by the end of 2013 I could possibly obtain a new mortgage. Could someone confirm this? Or correct me if I am wrong?
Has anyone had firsthand experience with this?