A subprime borrowers refinance preparation?

When I bought my house a year ago I was one of subprime borrowers. I have a mortgage with the option once a predatory lenders known. However, I have all my payments on time and havnt had a problem. In one year my 2 year prepayment penalty and my arm. My credit score went from 580 to 625. I understand the point in this sub-prime loans to your credit card, if in two years you get to have a normal life, fixed rate. Is that a reason? I ask because so many people have seized on these subprime loans and ARM. Are these people can not refinance? Can I refinance? Thank you for all the advice and opinions.

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