Securing Owner Occupied or Long-Term Financing AFTER Foreclosure

[Chad Clinton]

Good Day BiggerPockers Family,

I could really use your help. During the market downturn of 2007-2008, I was overleveraged and had two rental properties foreclosed on that were used as collateral assignment for a large condo project (long story). In Washington, DC, there was a moratorium on foreclosures, so the transfer of deed didn't take place until couple of years ago.

NOW TO THE ISSUE........

I'm a single parent looking to move closer to where my son will be attending high school, but I've applied for financing and the lender is saying that I can't get a real estate loan until the foreclosure (i.e. transfer of deed) is three (3) years removed, which won't be until November 2020. Are there any lenders who can provide any other long term funding options or do I just have to ride this out? I'm definitely aware of the hard money options, but the interest rate would be far too much to maintain for an owner occupied property. I definitely could use the expertise of this group. Thank you in advance!

Kind regards,

Chad