Lots of folks are wondering this exact question...When Can I Buy Again?
I found great tips for people provided by Fannie Mae Updated Credit Guidelines from NPHS.
In summary it is said to average between 3 and 5 years after foreclosure for Fannie Mae to allow a purchase again. Quoted as varying depending on the "extenuating circumstances" pertaining to the reasons for default ie; job loss, financial hardship, bankruptcy, etc.
What about after a Died in Lieu, Short Sale, Bankruptcy- CH 13 or CH 17?
Not know the difference in Chapter 13 and Chapter 7 Bankruptcy.
This article clearly defines that as well.
Here's a link to the full article: Fannie Mae Credit Guidelines
Other News for Buyers...You must have heard the House of Representatives passed a bill on 6/30 to extend the time to close for those already under agreement prior to 5/1/10 until September 30th, 2010 to close to receive the First Time Home Buyer Tax Credit. We're still waiting to see if this passes through the Senate or gets chopped up and spit out; hopefully not!
