Buying after Deed in Lieu of Foreclosure (KY)

Long story short, wanting to buy a house. Ideally, I'd be able to buy with my boyfriend. The problem is, he has a Deed in Lieu on his credit report from when he was separating from his ex-wife. Basically they were underwater, he couldn't legally keep it if she didn't agree to let him rent it from her, it wouldn't sell for what they owed, she's not financially responsible and didn't care, etc. Anyway.

On the County Auditor website, it shows the house went from their name to Secretary of Housing & Urban Development (HUD) and was recorded on 12/05/14. It was then purchased by JP Morgan Chase just this year, recorded 03/13/17. It was then bought by a company on 05/22/17, flipped, and is back on the market now.

Anyhow, we tried to buy a few months ago but certain things made it complicated for me to buy it alone without him being on the loan. My question is, how long does he have to wait to buy again? We have got very conflicting information on this, even from mortgage professionals, both in terms of how many years you have to wait, and from which date (a broker told me you have to wait from the date Chase bought the house, just a few months ago… that seems insane to me given that this all started going down in 2013 and they finally did the DIL in 2014).

Also. I realize the hive is going to advise against buying with the boyfriend while unmarried. We do plan to get married in the future, and have both thought this out and want to do this. If we could avoid all the advice to the contrary, I'd appreciate it, as I really just want help with the issue at hand.

Thanks so much! This whole situation has been a cluster.

More real estate tips at Program Realty Wix site


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