The lumpy rings, the flaring all the way around also make me think laminitis possible, but if the horse was living in a 'seedy' environment & hasn't had her feet touched in 2 years, then it could be due to that combo allowing the flared walls to become infected all round.
Looks like a few serious trims to be had, treatment of seedy, dry environment and attention to diet & nutrition. Esp as she's only 2yo, with good management, I think she'll be well on the way to good feet... altho of course, with so little info, one pic, that is a bit of a guess.
Why not start a thread & post some more pics & info Huntera?? Check out links in signature line below if you don't know what's needed for hoof critique pix.
Just thought of a think. I see infection all round like this, without thin sole/rotation - if that's how you classify 'founder', in draft or heavy type horses. Extra weight on overgrown walls...? It has been uncommon IME too, without other signs of laminitis - even with - but thinking about it, not sure I've seen it in anything but heavies...
Last edited by loosie; 02-10-2015 at 08:04 PM.