Unfortunately, if you have experienced a foreclosure, you will be unable to get another mortgage for approximately 3-5 years. FHA, as I understand it, will provide you with a mortgage after 3 years, and Fannie Mae or Freddie Mac will not offer you a mortgage for about 5 years.
The best means to buying your next home is to talk with a qualified mortgage broker in your area to learn what you can do to repair your credit and prepare your records for a clean, hassle free purchase.
Grace Morioka, SRES, e-Pro
Area Pro Realty