So i am pretty sure my credit sank to the 500's this past six months, but is there any creditor who would consider a refinance?

My first thought at your credit dropping in the past 6 months is that you will have difficulty other than a hard money loan which results a high interest rate and high cost.It would be best to get qualified currently from a New Mexico mortgage broker/banker who has done loans for borrowers with credit scores down toat least 580. You may need to get on a fast track togetting your credit score up to 620, for any tolerance of late payments.

Probably not.. If it sank in the past 6 months, that means you have some recent derogatory credit, which will most likely disqualify you.. But until a lender looks at your complete loan profile, it's impossible to say for sure.. so try contacting a local mortgage broker and let him analyze your complete scenario.. only then can you be advised properly.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Sounds like you had some additional credit issues in the past six months that may prevent you from qualifying. You need to consult with a local Loan Advisor to see if they offer any programs for someone with your scores.

Here's the way to handle this situation. Find out what is affecting your score & then put a plan in place to work on getting it back up. Whether that mean paying down debt, challenging inaccurate blemishes on your credit, or not being the cause of any additional late payments ... you CAN get the score back up. And it doesn't take forever. It takes diligence & consistency. FHA will consider lower Ficos but you have to have good employment history & debt ratios need to be in line. Find a loan consultant in New Mexico & talk to him/her about reviewing credit to see how to get things back on track. Don't refinance into a crappy rate or loan because of low FICO. The home loan is for 30+ years, your low credit score is temporary.