Big news affecting Real Estate came out about week ago that applies to anyone who had a Short Sale or Foreclosure recently.  FHA is shortening the length of time you have to wait to purchase a home using an Fha Loan to ONE YEAR (I believe it was three years) but would have to meet certain conditions:- The short sale/foreclosure was caused by a loss of income of at least 20%- The owner has recovered from this.- The owner has completed Housing Counseling.These are just some of the basics and there are a lot more details.  If you are interested in knowing more, call me at 858-349-2390 or contact me and I will forward you the letter from U.S. Dept of Housing and Urban Development.Thank you and have a great day!