A previous bankruptcy and foreclosure typically prevent an individual from obtaining another mortgage to buy a new house. However, some lenders are viewing “extenuating circumstances” as a reason to grant some individuals a mortgage to buy another home.  The circumstances must be out of your control such as the loss of a job, a serious illness or the loss of a spouse who was the wage earner to qualify for the new loan.  You must also have good credit for a certain number of months after the event.

For more details read, “Getting a mortgage after bankruptcy or foreclosure.”