Buy to Let Building Insurance

My husband and I are not currently behind on our mortgage but are feeling the strain of a high mortgage. We have tried selling a vehicle to relieve some of this , but with gas prices so high that has not come to pass. We would like to buy a new home before we go into forclosure so that we still qualify for the great loans, our credit scores are each in the mid 700’s, but are un-sure if the bank could go after our new home. I’m not neccessarily wnting to do this but it feels like the only way, with out losing it and renting for years! Our APR is already lower than what the national aveage is now, so re-financing would not help. I basically would like to know the repercussions of forclosure regaurding new property and credit score.