I would suggest repairing your credit, and mitigating the circumstances that caused you both to damage your credit that much, from happenning again.
It doesn't pay for a bank to be "Flexible" any longer. We are required to assess a borrower's ability to repay. Part of that test is to assess the borrower's "Willingness" to repay. Outside of outright fraud, a 470 demonstrates a lack of willingness to repay.