If you are in a position where you are thinking of filing bankruptcy but want to eventually buy a house, it is possible!  Although a bankruptcy will reduce your credit score by 200+ points, the damage is not ever lasting.
  After your bankruptcy you need to focus on making a perfect payment history with three or more credit references.
  Also, you will usually need to wait two years from the discharge of the bankruptcy in order to be considered for a home loan.
It helps to get letters from people with whom you have been paying bills on time with (telephone, or other utilities, for example).
  You can never have too many good reports of your enhanced credit responsibility, especially after a bankruptcy.
It is a great idea to keep your current job, and ideally the same job from the time of your bankruptcy.
  Remember, you are trying to prove your consistency and reliability as much as possible.
As your credit lines start coming back, be careful not to use too much of what is available.
  Keeping the charges you make low will be a beneficial signal to lenders that you are serious.
A warning I always explain to people is to make sure whatever was causing the problems that led you to consider the bankruptcy, in the beginning, have been fully fixed.
  Bankruptcy is a devastating event.
   You will close the doors on pretty much any credit for a period of time, not to mention the flags it leaves will remain on your credit history for 10 years.
  Recurring credit issues become much more difficult to deal with when you have filed bankruptcy in the past.
Once you have made all the appropriate post-bankruptcy steps then you are ready to start your search, keep the following tips in mind.
Be very skeptical of sub-prime lenders that will charge insane amounts for processing fees, pre-payment and other fees.
  Most of the time I say, if it sounds excessive or unfair, it probably is.
Make sure you obtain 3 or more quotes from different lenders.
  This helps flush out the best deal.
Don't despair, get creative.
  If you still need some money for a down payment, consider borrowing it from a friend or relative.
   After closing, you can often take a second or third mortgage up to the value of the house to repay.
  (Be sure to disclose any creative maneuvers to your lender) First-time-buyers.
  Usually there are sate-operated first-time buyers programs that can help you get started.
  A short web search can work wonders.
Make sure you have exhausted all other options short of bankruptcy before you take this step.
  Having creditors harassing you can magnify problems that you might normally handle without considering a major bail-out.
  In summary, review your credit report for mistakes and opportunities.
  Negotiating toward a clean financial history has helped many from filing for bankruptcy.
  Whatever your choice, make a move today " you will be so happy you did!