If you've experienced any of the following"Economic Events", you may be eligable:
Chapter 7 bankruptcy
Chapter 13 bankruptcy
FHA will now allow a borrower who has suffered a Economic Event i.e. foreclosure, short sale, deed in lieu of foreclosure, bankruptcy, etc to be considered for an FHA home purchase loan in as little as 12 months after the event. On 8/15/13 the US Department Of Housing And Urban Development (HUD) published Mortgage Letter 2013-26 (click document number 13-26 for the letter in .pdf).
This letter expands HUD's "underwriting standard and criteria for evaluating borrowers who have experienced an Economic Event" as defined in the…