Typically in order to obtain a new Fannie Mae backed conforming loan, you must wait 2 years from the date your short sale closed. Unfortunately in this case you will not be able to co-sign for your Daughter at this point until 2 full years have elapsed. Here is some information for you in regards to short sale waiting times:
FHA has a three year wait period for borrowers who were in default at the time of the short sale (or pre-foreclosure sale). FHA tends to be a popular option as the minimum down payment is currently 3.5% and FHA is more forgiving with credit than Fannie or Freddie.
Fannie Mae has various wait periods depending on loan to value:
â€¢2 years with a minimum 20% down payment
â€¢4 years with a down payment of at least 10%
â€¢7 years with standard down payment guidelines (varies depending on credit scores)
Freddie Mac has a 4 year waiting period.
I hope this helps and if you have any other questions please feel free to contact me directly.
Prestige Realty & Investments