"Am I ever going to be eligible for another new home loan?"
Short answer: Yes.
There are two sets of guidelines you must satsify: (1) Fannie Mae/Freddie Mac, the government sponsored entities that purchase loans from banks, and (2) the bank's own guidelines. Fannie & Freddie are the more important.
It all depends on "seasoning" time - the time since your bankruptcy was discharged and the time since the foreclosure was satisfied. Bankruptcy seasoning begins in the month following the Court ordered discharge. Foreclosure seasoning begins the month following payoff of the foreclosure (typically when the property is sold at auction)
Fannie Mae and Freddie mac count seasoning time two ways: You must wait 5 years after a foreclosure on a Primary Residence or 7 years after a foreclosure on a Second Home or Investment property.
For a bankruptcy, you must wait for 2 years after discharge for a Chapter 13 or 4 years after discharge of a Chapter 7 or dismissal of a Chapter 13. Note the difference between "discharge" and "dismissal" on Chp13 BKs.
Sounds like you might be eligible for a Fannie/Freddie backed loan as early as Nov 1, 2010.
FHA requires 2 years seasoning since bankruptcy discharge and 3 years since foreclosure completion. You might be eligible for an FHA insured loan Mar 1, 2009.
1.) Lenders are terrified of risk at present. Although Fannie/Freddie or FHA guidelines might say yes, it's up to the lender to agree. Many lenders have guidelines more restrictive than Fannie/Freddie and FHA.
2.) Guidelines change. Fannie just implemented the new seasoning times on foreclosure effective June 1 of this year. Prior to that the seasoning time on foreclosure was 4 years for all property types.
You might also consider subprime loans (there are still a couple of lenders left), equity only loans (high rates - 12%+ fees and prepay) or seller financing.
A good Realtor can help you with seller financing. This would be your best option if you must buy now.