just a word on the first answer: most banks have very clear restrictions on 'buy-backs' from anyone who was involved or related to the previous owner.

Moffit,
Yes you will be able to buy a home again. It may take some time to clean up your credit but it can be done with some good advise and a little bit of time. I see divorces make a mess of peoples credit and finances all of the time. It creates a difficult time. If there is any way I can help with a mortgage or if you have any other questions, feel free to contact me.
The very best of luck to you!
Michael

Michael D Delp
Mortgage Pro
4802 Old Bethlehem Pike,
Telford Pa. 18969
Ph- 215-453-1025
Fax- 215-453-1012
Cell- 610-762-0318
michaelddelp@aol.com
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Buy it back through the foreclosure channels, most likely for less than the current balance owed.