Even then with all the overlays and FHA changing their guidelines right now it would be extremely rare for someone to buy with TRADITIONAL financing right after a short sale. Best way to know is talk to an experienced loan officer (hint they are not all the same).
Even with the 2 year time-frame that is just ONE guideline... your credit profile still needs to improve obviously.
You can always look at non-traditional financing like a lease/option or land contract. You can always set the terms in your favor, and as long as you have a game-plan with a loan officer qualify in 3+ years into traditional financing.
It takes a specific buyer though to fit that bill, but if you ever have any questions feel free to contact me directly through Trulia.
I'm pretty sure your questions will be comprehensively answered on this in the attached web reference. Either in the article, the video or one of the 130+ responses (and relevant links in the responses). It covers everything regarding waiting periods for different types of loans, buying immediately using FHA (for VA you'd have to see my main website - I just put that article up), what constitutes extenuating circumstances. . . . the works. It's a lot to read through but the answers are all well documented. If it gets thick, just call or email me and we'll go through it. I'm just down in St. Paul.
completing a Short Sale, but have had others that will need longer to reestablish their credit and current finances. Local banks & Credit Unions have been good lending sources for those with a Short Sales reported on their credit reports. If you have improved your credit rating and have a history with a financial institution exceptions are possible. I hope to see more options made available to those who have experienced a Short Sale as the economy has been a large participant in the cause. Bernardexecutivegroup@gmail.com
Hope this helps:)
Lenders look at a short sale as an attempt to pay off debt in a bad situation that is not preventable
Short sales are a "part" of the economy in the last couple years. If you need help deciphering this you are free to email firstname.lastname@example.org.
I have a lender that can sort through this for you with a program called Path 2 Buy. We will look through your credit history and give you options.
Local professionals T!