Good question, I suggest you speak with a local lender.? Get pre-qualified and there should not be a cost nor an obligation.? They can show you where you are at, what your price range could be (not that you have to buy a house that expensive) and what (if anything) you can work on so that you can buy a home again.
Best of luck.
Spirit
Source: http://www.zillow.com/advice-thread/Buying-after-a-short-sale-but-with-a-unique-situation/481098/
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