Here is a chart with more information on short sale and bankruptcy waiting periods: http://centralazhomes.com/az-home-loan-programs/home-loan-wa
There are hard money lenders that will do interim 1-3 yr short sale bridge loans immediately. They require 25-35% down. Cost/Points of 1-4% and interest of 8-12%. You need to be able to qualify (credit score and income) for a conventional loan today except for the short sale. These loans must be converted to a conventional loan as soon as your waiting period is over. The risk is that you may not qualify when this loan comes due in 1-3 years.
Email me for lender recommendations or with more questions.
Your Local Expert
Central AZ Real Estate
I don't know perfectly.If you any more question you can ask feel free to reverse mortgage lenders direct.They are very helpful.
Sr. Mortgage Banker
V.I.P. Mortgage Inc.