Getting a Mortgage With A Co-Signer
It may, you really need to sit with a lender to see what is wrong with your credit you may be surprised sometimes it just a little things that changes you from a person who can't to a person who can buy a home. I don't work in your area but highly recommend you sit with a good lender that can explain...

Could i qualify for a mortgage?
Yes but most lenders won't give more than 70% LTV

Mortgage After a Short Sale
2yr. from date of closing