My team has closed over 730 short sales, yes it is possible to get another mortgage IMMEDIATELY after closing a short sale provided you did not miss any payments & at the very least only 1 missed payment within the past 12mos. I hope you made your mortg. payment in the month you closed your short sale too.
Relocation is the best hardship possible because lenders are being asked to re-loan to people who want to move just 2 miles away & it's very tough to explain "Well, he wanted to move to have a shorter commute to work". 2mi shorter, doesn't cut it.
There are a lot of short sales for sale in Santa Ana, if you are going to be on the buyer side of a short sale, please give me a call, not only can I hook you up with the right lender for financing, I also know how to PRE-QUALIFY the short SELLER & their Listing Agent to make sure your transaction is going to be as smooth as possible.
Shoot me an email directly if you'd like to talk to me some more. I don't look back on this same Trulia thread for answers posted after mine.
Realtor Since 1996
Main Street Realtors
Short Sale Expert - I Can Prove it!