In a memorandum issued by HUD last week, borrowers who Short Sale a property may not be eligible for a FHA backed mortgage for a period of 3 years.  You can read the actual HUD memorandum here:

http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/files/09-52ml.pdf

Stay tuned for more updates.

Are you experiencing financial difficulties and looking for advice on the options available to you?  Contact me today,  I am personally committed to helping 100 Maryland homeowners prevent foreclosure by 2011.