When Is My Waiting Period Done? (bk And Foreclosure)


LoanSafe Member
Sep 7, 2013
My wife and I filed for a bankruptcy that was discharged on November 26,2014. We included the house in the bankruptcy. The sheriff's sale occurred in December of 2015, and was recorded in February of 2016. I have talked to 3 loan officers so far regarding when I would qualify for an FHA loan and have gotten different answers. Two of them said it would be from November of 2014, and one has said February of 2016. Internet articles keep giving ambiguous answers.

We definitely have enough for a down payment, and our credit scores are over 700, so the only thing holding us back is the waiting period. When does our waiting period end? We need to know before our lease is up in November of this year, so the answer will impact where we rent before buying our next house.

Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
Loan Safe Mortgage
Jan 14, 2011
San Diego, California
Hi Moonkeeper,
This is actually a scenario that I personally specialize in - Prop included in BK financing.

Conventional would go based off the BK seasoning period when including a property which would be 4 years post the discharge date. Meaning November 2018 you will be eligible.

FHA considers foreclosure and bankruptcy two separate events, the seasoning would based on the foreclosure date which is 3 years. Based on what you mentioned above, December of 2018 you would be eligible for FHA.

I do have a portfolio product available now with a down payment minimum of 10%. Please feel free to reach out to me at [email protected] and I can go over more details of the program with you.