Rebound - you will need at least three years of debt free living, and a high credit score before a reliable lender will take a chance on you. This isn't the same market that lended you money however many years ago, whenever anybody could get financing, with no money down, any kind of credit score, and any sort of debt to income ratio. Get your debt to zero, pay your bills on time, save up some money for a down payment, work your credit score up, and rent out a place for a few years. I hate to say it, (because it could be your Lender's fault and the terms of your previous loan that got you here), but you're the one who neglected to pay your mortgage for months upon months, and now it's time to face the consequences. You can understand why a replicable lender might want to see you succeed at becoming financially stable, before lending you a thing... right?
Also, make sure the next time you take out a loan - that you get a good faith estimate, and the payments, and insurance are at or below what you can reasonably afford. Do not get an adjustable rate mortgage (ARM), please stay away from ARMs, they are leading to more foreclosures than you can imagine.
Just shooting it to you straight. Good Luck, and stay focused - if you do, you'll be a homeowner again soon!