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I am a Licensed Real Estate Salesperson and a Certified Buyer Representative (CBR), working in the New York City area. I am also a personal real estate
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David answered:
Yes it is possible in certain cases. It depends on the credit of the person who is doing the short sale and whether or not they were behind in their payments. There are some brokers out their who can get loans for people in these negative situations. It becomes very difficult and they will be facing much higher interest rates... So they might end up right where they started. Best bet for them is to rent for a couple of years and get their credit score worked on by a professional.
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