text: There are some lenders who now will finance a person with no bankruptsy seasoning. You will pay a much higher rate but after a year as long as you make all your payments on time you should be able to re-finance and recieve a lower rate. Be careful of large pre-payment penalties and large closing costs lenders tend to take atvantage of persons in a desparate situation. The best way to handle this situation is to re-establish your credit and not overextend yourself. There are several ways to re-estblish your credit in a short ammount of time.