I filed one year ago for bankruptcy. When will I be able to use my certificate of eligibility to refinance my house at a lower rate? – Otis


With such a recent bankruptcy, we’d be surprised if you’re able to refinance at all. While you can check with lenders, we’d guess about two years would have to pass before you’d have a shot at being able to refinance – even with a Veterans Affairs Home Loan. Some folks may not realize it, but good credit management definitely matters when applying for a VA loan. Make sure you manage your credit responsibly moving forward (on-time payments, low balances, don’t apply for new credit unless absolutely necessary, etc.). See FICO’s education page ( for more information. The good news is that it doesn’t look like interest rates are going up anytime soon.