You are correct you need to wait 3yrs after a short sale and have a credit score above 640. Co-signers work when the borrower can show income but are just high on the ratios. The co-signer helps to bridge the gap. You need to speak to a good lender to get the best advice.
I use FBC Mortgage if you would like their contact info just let me know.
If your girl friends credit and her parent's is good they can co -sign on the mortgage. This also means the deed would be in all 3 of their names. The lender requires anyone on the deed to be on the mortgage. That being said all 3 parties need to sign the contract paperwork. Do her parents live local or out of state? Contracts can be email scanned. Give me a call if you are looking to interview and get the right agent. I have sent this direct to your email also.
I feel an informed client makes the best decisions regarding their real estate needs. Let me know if I can be of assistance.
Broker Associate, GRI, SFR, NHS
Real Estate Consulting, Marketing & Sales
Prudential Tropical Realty
2539 Countryside Blvd #3 Clearwater, FL 33761