I have a credit rating of 614 and less than one year out of bankruptcy. Would anyone finance for a lower rate than my present 8.25 percent and give a fixed rate. I am a disabled Vietnam veteran. – Marvin


We’re not bankers, but we find it hard to imagine that you’d be able to get approved for a refinance so soon after filing for bankruptcy. Typically, it takes a couple of years on the straight and narrow before lenders will take a fresh look at your situation. However, it wouldn’t hurt to check with your current lender and see if they can provide any options to get your interest rate in line with current rates. In some cases, lenders may “recast” loans. In other words, for a small fee, your loan interest rate would be adjusted down. In this scenario, the loan would not be reamortized, you’d just have a new, lower interest rate. It’s worth asking. Worst case scenario they say no.

In the meantime, work to improve your credit score in any way you can. Make all payments on time every time, keep any credit balances low or zeroed out, and don’t apply for new credit. Keep in mind, you can get a free credit report each year at