Will I ever be able to buy another home?

You will be able to buy another home if you have a good short sale negotiator. There are some important aspects that go into the details of a short sale negotiation. As of November 2008, you need to have a closed short sale with no deficiency and 24 months of good credit after the short sale. If you walk away (Deed In Lieu or foreclosure), you are looking at a minimum of 60 months (5 years), and sometimes 7 years of good credit before you are eligible for a new home loan.