Need advice about obtaining a home loanI was told by BOA of today that a short sale is the same thing as a foreclosure and that I would have to wait for 3 years before I could purchase another home. It has been just over 2 years since my short sale and I was hoping to purchase a smaller home for my son and I. I am so disappointed. I have worked hard these last two years to pay down my debts and I just really wanted to take advantage of the current market and get a small home. Purchasing here in CO is a lot less than renting. Renting a 2 bedroom would cost between 800-1000 a month and I know I could purchase a home for less than that. My credit score is in the low 600's and I know I could get an FHA loan. Any advice would be greatly appreciated.November 27 2010 - Barnum00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.