As a result, a mortgage lender will find it extremely difficult to give you a loan. It will make it more difficult, but usually not impossible to get a new mortgage. Send a letter of explanation. Of course, the best solution is to have paid on time. It is a real problem.
Bankruptcy is a total financial meltdown.
It is not likely to make a favorable impression on a lender. If it happened recently, it will probably prevent you from getting an institutional mortgage. Your only answer may be a very appealing and creative letter explaining why it happened and why it will not happen again in the future. Find A seller who will help finance your purchase by taking back paper or look for a home with an existing assumable mortgage. As long as an institutional lender is aware of a recent foreclosure, the chances are slim to none it will grant you a new mortgage.