Nope. You have to wait 3 years
It does depend on whether or not you had late payments prior to the short sale as well.
VA does not directly address short sales in their guidelines, so they will go by the foreclosure and bankruptcy guidelines which are as follows... 2 years from date sale closed and transferred to new owner. This is to obtain the VA guarantee, however, each lender can have their own guidelines above what VA calls for, and it's these "overlays' that make some lenders ask for longer waiting periods, so most lenders ask for 3 years. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com
Regardless of the underlying reason - you caused a mortgage lender to suffer a loss. No new mortgage lender is going to be excited to give you a new loan. But, generally speaking, with good re-established credit, you may possibly get a VA loan with waiting just two-years after the date the home was no longer in your name. That is unless the previous loan was a VA loan - in that case, you would never again qualify for a VA loan UNLESS you paid back the full amount of the loss VA paid on the first home. VA also (in theory) allows NO waiting period if borrower had no late payments on any mortgages and consumer debts within the 12 month period proceeding short sale AND did NOT do a strategic short-sale. Few if any VA lenders will allow this regardless if you feel you met the criteria. Figure a two-year wait. http://joemetzler.com/waiting-period-after-foreclosure-short-sale-or-bankruptcy.htm
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