I know of a hard money lender that will finance you if you have the down payment. They will expect you to repair your credit in 3-5 years to payoff the balloon payment. Contact me if you are interested.

The easy answer is to find a credit partner. You provide the cash- he has the credit. Both of you or at least an entity the two of you control is on the deed.

30% isn’t 100%. You will need financing. And if you don’t qualify, then you don’t qualify.

If you have 30% cash for a new place, exactly how did the old one get foreclosed on? Any sane bank is going to ask why you walked away and refuse to lend on a new property.

If the condo was rental property, you won’t be able to exclude the cancelled debt income (you kind of break even eventually, but you’ll have to pay the depreciation back).