[Pdish]

we can attempt to get another mortgage? We have a property now that we own free and clear and would invest all the money from the sale of that place into a new place. It would be about $70,000-80,000. We can afford up to $1000/month mortgage payment.

[bull_rooster_aardvark]

The foreclosure stays on your credit report 7 years from the date it was filed. Still, with great credit for the past 4 years and solid earnings/ downpayment maybe you could still get a mortgage. I'd go into a bank, tell them your whole situation and see what they say. Probably best to start with the bank you do business with right now, but try a few no matter what the first one says.

[877YouKeep]

you can still buy a property if you have improved your credit score but like you mentioned you have to talk payment and not rate because your rate will be higher than most

[dvelasquez]

An FHA loan will allow you to buy after 3 years from your foreclosure. Downpayment is only 3% and rates are very competitive; almost like a prime conventional loan. I am closing a loan tomorrow at 6.125% 30 years fixed, just to give you an idea of interest rates.