waiting a year after bankruptcy discharge to get mortgage loan

[krybrahaha]

What is the name of your state? WA State

I just filed bankruptcy and it will be final at the end of february. I also have a foreclosure that will be auctioned in April. How long after all this would it take to get a mortgage loan? I also have late payments from when i had the house. Im planning on waiting a year after my discharge to apply for a mortgage loan, can one get any good rates after a year?

[PghREA]

It is going to take much longer than a year. In the meantime you will need to work on re-establishing good credit and payment histories. Bankruptcy and foreclosure is not something that people who extend credit take lightly.

[HUD-1]

For an FHA loan, it is normally a two year wait after the BK discharge, provided that you keep a clean credit history after the discharge. There are lenders out there willing to make loans before that, but the terms will not be as good.., higher rate, higher downpayment, and most likely higher points/fees.

[Blacky1]

HUD 1 is on the money. I have lenders that will loan to borrowers with no seasoning on foreclosure. It ain't pretty. Talk to a broker in your area. Good Luck.