I may be able to help you with lease to purchase in Forrest City area. I work with an investor who has properties in Forrest City, and maybe I can help you to work something out.
But like the other Trulia members here suggested, the main and best way is to check your credit report and see where you are standing. That will give you a clear idea how long before you can get a loan to purchase your next home.
If you are interested in knowing more about the lease to own property, please feel free to call me or email me.
John is correct that your main task right now is to re-establish a good credit score. The link below will help you understand the basics of credit ratings. If you need more help, a mortgage broker like John can give you some individual guidance.
Prudential Real Estate of the Rockies
If decline it could be 2 years prior to any purchase.
You might want search for a lease purchase home with a Realtor who represents you these opp's are rather tricky for contracts.
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors