How long from since the foreclose process is complete do I have to wait in order to be eligible for a new mortgage?

This is not really a bankruptcy question since you got your discharge and did not reaffirm the mortgage. How long it takes you to get a new mortgage will depend a lot on how hard you are willing to work to get one. There is no set time limit, it will be up to the lender.

It would be better to talk with a few different bankers about this and get more than one opinion. In general though, I think that different banks have different policies. Some will make the loan sooner than others and others may not be willing to make a loan at all. The terms of the loan, such as interest rates, will also vary from bank to bank so you should shop around. In addition, there are several factors that would influence their willingness to approve a loan, such as the extent of the down payment you can make, your income(s), the amount of disposable income your family has, the presence or absence of co-signors and their credit scores, etc.

You will not qualify for a mortgage for at lest three years.

Unfortunately, there is no set number for your situation. Some lenders will say 18 months, others 4 years, yet others 7 years. You need to address your current situation. Do not do a short sale unless you are released of all personal liability. Do talk to an experienced real estate attorney in the state where you live and find out about any anti-deficiency protection. This protection varies from state to state. So you have some homework to do as part of your current situation. From your description it appears you are pouring money down a black hole. Find out your options then move forward. My best to you.