How does the Fannie Mae wait-time work? (auction, foreclosure, mortgage)

[PS90]

Since the last question I asked on here was answered very helpfully, I figured I would ask another one.

I have a foreclosure on my credit report. The house sold at auction in May, 2011. Just over three years ago.

I understand that, in general, a 7-year wait time is required to get another loan that is backed by Fannie Mae/Freddie Mac.

My question: does that foreclosure affect everyone on the new mortgage application? In other words - I have a foreclosure on my credit - but if my wife, and couple of other co-signers, and I apply for a mortgage (no one but me has the foreclosure on their credit) - does my credit issue mean that we can't get a loan for seven years? Or are the other co-signers enough to "over-ride" that requirement?

Hopefully that question makes sense.

Thanks again for all the help.

[Butterfly4u]

PS90,
You can't apply for a mortgage.
Your name can not be on the application.
Don't use your income, use someone else to apply for the
loan.

[pookie84]

I dont know where Butterfly got their info, but we are in the process of house buying. We filed for Bankruptcy and got everything cleared 4 years ago. We not qualify for a mortgage.