HELOC with short sale on record

[Jackie F.]

I am looking to invest in a property in my neighborhood. I currently own my how outright (no loans or liens) and I estimate it's value between $120-140k. I would like to take out a HELOC against it.

I recently completed a short sale for my previous residence in Dec 2013. My debt to income ratio is excellent. My only debt is credit with a minor balance. I have a regular day job that I am not planning to quit.

This is for a buy & hold opportunity.

What are my options in getting some sort of financing for my current, primary residence given the short sale on my record?