The best thing to do is discuss all of this with your lender and your agent and see if there is a solution.
We had a house listed on sterling heights, the lender called the employer for verification two days before closing and found that buyer lost the job few days ago. This happened early of Nov 2011.
The lender cancelled the loan, the house went back to the market.
Your only other option would be to pay CASH if you can. As the other agents have informed you, if the seller owns the property "Free and Clear" you can go the Land Contract route, however, the third party or bank for this Short Sales will not go with it. They want either CASH or qualified buyers for their Short Sales.
In any case I would have a talk with your agent and your lender for professional advice.
Good Luck with the house and looking for a job.
I'm sorry I didn't read your question completely since this is a short sale.
I would still talk to your lender. Has the short sale been approved yet? If not you may have some time.
No this house isn't a good candidate for a land contract. Lease with option might be difficult as well
The best thing for you to do is ask your lender. You may have some other options as well.
If the home is owned free & clear by the seller he may want to do a land contract with you.This would mean a higher interest & then when you do qualify for the mortgage, you could convert it to a mortgage.
You could also do a lease with opt to purchase. Again, as soon as you qualify for a mortgage you could purchase it at that time.
You could also have your agent check into a different lender
Hope all works out for you,
I would suggest you ask your agent to delve into this for you, or call the mortgage company.
Honesty IS the best policy!
You are putting a lot down on this home, so the mortgage company may cut you some slack with some form of written confimation of your new employment status.