A bit of background: I purchased my home in 2010 for $130,000 and since my purchase I got married, then divorced, I was hospitalized with COVID for a few weeks, I had to make a career change among other life events. I am the sole name on the mortgage as well.

So I’ve had a few life events that have affected me financially and while I believe I’m stable now, in January of 2023 I was behind on my mortgage and I had foreclosure action taken against me. The house was never actually foreclosed on because I was able to obtain a loan from family members that allowed me to bring my balance current within a week of the foreclosure notice.

That brings us to today, I have a lot of equity built up in my home, my payoff is $94k and the comp sales in my area are roughly 290k-320k, so I wanted to try to sell while the market is hot. I would like to be able to sell and use the profit as a down payment for another house but my concern is that a lender will see the foreclosure action and deny the loan request. Are there federal guidelines that will prevent me from getting approved?

Thank you for any and all help/advice you can offer!