Florida USDA loans, 7 days a week - http://www.usdamortgagesource.com
As of June 15th the Short Sale process is supposed to become more streamline with a 30 to 45 day response. If you are the primary (1st) offer you are in the Best position.
I work with a Lender that does not look at your Credit Score and No Down Payment is required. They look at your work and payment history. Also they have AWESOME rates!
Please contact me if you would like further details regarding Short Sales, Foreclosures or Lenders..
Have a GREAT day!
Vivien L Biggs PLC
Prudential Arizona Properties
Check MLS for homes on my website
2) The time to complete a short sale is independent of any loan process the buyer may elect, including USDA.
3) If the Buyer's lender is experienced, USDA takes about 30-days just like most loans. If they are not experienced it might take up to 60-days to close.
Since you want to get into the house quickly I would avoid Short Sales. Given the current Hot Housing Market here in the Phoenix area, your biggest challenge will be to get your offer accepted. On houses costing less than $150,000 expect that you will have 15-20 competing offers being presented on the house you select. You will most likely need to make a number of offers before one is accepted. I now tell my buyers, don't fall in love with the house until after your offer is accepted to avoid the disappointment. It is tough out there. Good luck!
Central AZ Real Estate
Your Local Expert
You've asked 2 questions. It is possible to purchase a short sale or foreclosure with a USDA loan. You will have to meet certain household income eligibility requirements and the property will have to be located in a USDA eligible geographic area. There are other requirements, one of which is that, you cannot own any other property at the time you close on the purchase.
To answer your 2nd question, your loan will concern the PURCHASE portion of the transaction. The status of the property - short sale or foreclosure, is the SELLING portion of the transaction. The selling portion will be driven by the lender, who either owns the loan on the property (short sale) or owns the property (foreclosure). Unfortunately what type of loan you use to purchase the home will not expedite their process.
Hope that helps answer your questions,