If you’ve gone through foreclosure, it probably hasn’t reduced your desire for homeownership. If you’re looking for a second chance at the American dream, there is still hope.

Since the housing market started going downhill in 2006, more than 9 million homeowners have engaged in some form of distressed sale, according to research by the National Association of Realtors. This includes those who were foreclosed on, engaged in a short-sale or handed over the deeds to their home to avoid foreclosure.

The NAR finds that as many as 950,000 distressed sellers already are eligible for financing through Federal Housing Administration or other programs.

Many subprime buyers got loans through lax underwriting, they are likely to face a tougher time getting back to homeownership. Regulations now require lenders to prove borrowers’ ability to repay. Stricter lending standards mean many of these borrowers will not qualify mortgages.

If you went through a short sale, you saw your credit score drop as much as 125 points. If you went through foreclosure, it might have fallen as much as 160 points. The drop was even worse if you defaulted on other debt such as a car loan.

And rebuilding good credit over the years improves the prospect of getting a mortgage.