Yes, that is correct, but only for an FHA mortgage which is a great loan. The waiting period in order to get an FHA mortgage is now only 1 year, but there requires certain circumstances for that to be allow. I have pasted an article below from the Chicago Tribune about this change that you are talking about so check it out! I am a lender in Southern California and I have given loans to individuals who have also had recent short sales. If the short sale was due to job relocation, or there are other compensating factors and strengths to the file, I can get you the loan you need.
Well I hope this helps! If you have any further questions or if you need a loan, feel free to contact me. Also, if you found this helpful please leave me a recommendation if you can!
Sr. Mortgage Banker
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