Foreclosed homeowners get another chance It's not an unusual story from the recession. A well-paid worker gets laid off, can't find a job, loses his home and is forced into bankruptcy (about 7 million mortgage holders lost their homes since 2007, says Bloomberg Businessweek). A few years later, he is again well employed, has raised his credit score and wants to buy a home. How can he do it? If he's a veteran, the Veterans Administration can help. It lets borrowers get a VA mortgage and buy property only two years after a foreclosure. The improved job market is helping families improve their credit scores, expanding the pool of eligible buyers. More than 1 million of them are now eligible for FHA mortgages, according to Moody's Analytics, and other lenders are considering them.