Refinancing your mortgage with a bankruptcy on your record is not an impossible task. Since your home is used as collateral on a mortgage loan, lenders are more prone to work with people that have poor credit or recent bankruptcies. Refinancing your mortgage loan can even help improve your credit score.
The best way to re-establish your credit after a bankruptcy is to obtain credit. Opening a credit card is a simple way to do this. As long as you use the credit card responsibly and make payments on time your credit will improve. It is important that you keep your balance low and make your payments on time. After you have established a positive credit rating it is important to monitor your credit report. The credit reporting agencies make mistakes; you want to make sure your credit report is accurate.
Another way to improve your situation when refinancing is to put some money away. If you are able to pre-pay points on the mortgage you will receive better terms and interest rates for your new mortgage.