Is there anything I can do after a short sale to shorten the waiting period for getting a new mortgage?

It depends on your scenario and the reason for doing a short sale.. FHA has a product where if you did a short sale last month, you can apply for a new mortgage today, but the guidelines are strictly enforced.. So for example.. You lived in CA, lost your job, and the only employment you could find was in SC, so you continued to make your payments on time, not just the mortgage, but all your obligations.. And you sold the home as a short sale.. FHA will insure and allow you to purchase right away.. There are several scenarios which FHA will allow and many scenarios which will disqualify you, so to know for sure, you need to talk to a mortgage broker.. Keep in mind that all conforming lending programs require mandatory waiting periods.. These periods cannot be waived.. FHA is either immediately (as described above) or 3 years, Conventional is 2 years with 20% down, VA (if your VA eligible) is 2 years.. You could use a hard money lender, however it will be a very expensive loan.. Also, there's been talk about FHA either waiving or reducing the mandatory waiting period for short sales, and foreclosures, but that's' just talk right now... 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. 480-287-5714 WilliamAcres.com

Unfortunately, if you are looking to get a loan with favorable terms, the guidelines set forth by Freddie Mac, Fannie Mae, and Gennie Mae are set with various degrees of waiting periods for each, with few exceptions. What I have been telling customers the best way to get anything today is to either talk to your local bank to see if they will do a "portfolio" loan for you. Some smaller family owned banks are willing to take care of their customers in rural areas. They ussually want 20% down, which can be assisted by a seller carry back, and rates which are approxiamtely one percent higher than normal rates today on a short term loan.

Not if you are looking to utilize agency financing options.

Use a soft money lender to buy the home and refi once the waiting period is over. Intrest is still a write off , althought the down payment maybe higher then many of the loans out there. Your goal of home ownership is reached.

Sorry... Not in the traditional market. You caused a lender a financial loss. They are in no hurry to lend to you again.

Unfortunately not.

Consider a private lender, or a seller-carry mortgage.