As an attorney who helps people in financial distress, I have the sometimes unpleasant task of discussing with clients their choice to walk away from a home that they have owned for years, whether it is during bankruptcy, through foreclosure, or a short sale.
The first question, naturally, is: Will I ever qualify to purchase a home again after I file for bankruptcy?
The answer is yes. Though, there are many factors that one must consider. Your age, income, marital status, open trade lines on a credit report, etc. will all be taken into consideration when you apply for new credit. Just remember, a person's down payment is the biggest factor to be considered as well. The more money that you can put down on a house, the less risk that the bank will be taking, and therefore, you should be able to negotiate a better interest rate on the money that you will be borrowing.
If you have questions about obtaining a mortgage after you filed for bankruptcy, I would suggest that you contact a mortgage broker who works with FHA loans, VA loans, USDA loans and understands each lender's requirements. Requirements often change so the answers to today's questions may change tomorrow. A good mortgage broker will be able to answer your questions efficiently.