Ok, first, thanks for any and all help.
So I went through the complete process of applying for an FHA loan, buying a short sell, and was approved for everything until the very end by the mortgage company. I have a 680 credit score, which rose about 40 points in the last 6 months, and all the money for what I needed. Two days before closing, I was refused a mortgage due to my mom's house entering into foreclosure proceedings, but never finalized. House sold before my closing, and not as a short sale.
I was refused because of living in mom's house when proceedings were initiated (mom died btw). I was put on the deed to house for tax purposes by executor of will, as well as my brother who was also living in house. I was one of seven to inherit the house, but one of only two on deed due to age requirement included by mother. I was advised by my lender to walk away from the house, after initially trying to buy out the rest of the family, because no one else was paying on the mortgage and I didn't qualify by myself, for a loan large enough to buy out family members at fair market price.
So now, even though I have the money, the credit, and the place picked out, a contract signed and all, I an not able to buy a house with a loan, for three years. Is there anyway around this, is my question? What can I do? I was even qualified to buy a second piece of property currently as an investment. I currently live in Florida, if that matters any.
Again, thanks for any and all advice/help.