According to the FHA web site: “You may buy a home or do a refinance mortgage using FHA loans two years after the date of discharge for a bankruptcy, assuming that you have maintained perfect credit since the bankruptcy discharge with a FHA streamline refinance loan.”So if you’re in bankruptcy, and still want to buy a house, keep your chin up.

The other aspect is reestablishing acceptable credit after a discharge, were all bills paid as agreed, is financial responsibility demonstrated, not just a credit score going up.

I should also add that our mortgage was discharged in a CH7 BK in 2013, so if the investor were to default there would be no deficiency judgement against us, and as long as we're in another home already it would be irrelevant, aside from the fact that we'd have a foreclosure on our record.

If you had a BK and listed a mortgage in the BK and had it properly discharged, the wait times for a mortgage is 4 years not 7.  

Since they are bankrupt they said they are not pursuing the remaining balance on the house with the owner that the foreclosed on and since this asset should have been included in the bankruptcy that is now discharged with the court they cannot make a profit on a sale of the property. 

See below, from the report.Credit Score N/ADelinquent Accounts 0 PASSCollection/Charge Off 0 PASSBankruptcy Records 0 PASSThis was the data, better than earlier prospective tenants that had a number of debt discharges, etc.I went through tenant screening at a brisk pace and told him this has a high likelihood for producing errors. 

Also, the market is so hot here it is difficult to see why an owner in trouble would not simply sell to discharge their debts. 

All of the terms in quotes are defined in your policy.Most think there is a flood exclusion on the policy, that is incorrect, it is a water damage exclusion, it just has an exception that if the water damage is cause by pipes that accidentally discharge, we will cover that water damage as long as the premise is occupied and either heat maintained or pipes winterized.  

What is plaguing me is that I see that the property is still occupied and the registry of deeds most recent listing is "Discharged" and instead of a mortgage listed or deed it says MERS.

There is no discharge date since it was dismissed.