Thank you for the response! Unfortunately I do have a 60 day late on my credit report, I was advised at that time to be late in order for the bank to approve the short sale. I was able to pay the mortgage at that time but I knew once winter hit I would not be able to pay the mortgage and heat the home (New Egland winters) so that is why I went through the short sale- to prevent an impending forclosure.
I know my folks only made the offer to buy the home but for me to buy it back from them by the end of the year, that's why we were going to the assumable route. They have no desire to just add me to the title, this is really just supposed to be a short term solution. Homes in my area are moving quickly and my lease expires in September and I wouldn't qualify for a mortgage until the November/December time frame. The bank we have an appointment with this coming week is a local bank whom my parents have done a lot of business with for almost 30 years. I am hoping because of this long term relationship they will have some options for us.