With a recent foreclosure, even a portfolio lender is not likely to do a loan. If someone is willing, the interest rate will be high, probably higher than the current rate. Also, $60k cash in puts the loan at under $100k, something a lot of lenders won't do. If the property is not owner-occupied, your chances are even slimmer. It might be worth making some calls to the local portfolio lenders and a couple of good brokers to get a feel for how long it will take to be eligible for decent rates and terms.