How to Write a Profile Story. A profile story is a portrait of a person in words. Like the best painted portraits, the best profiles capture the character, spirit and style of their subjects. They delve beneath the surface to look at what motivates people, what excites them, what makes them interesting.
For a cash-out refi on a home the borrower lives in, generally, the lowest credit score is 640, according to Fannie Mae's standards. But such a loan comes with caveats. The borrower can't have an LTV ratio higher than 75%, must have 6 months of reserves in the bank and a debt-to-income ratio of 36% or lower.
That three years after the foreclosure was a big stumbling block to a lot of people. Often the house did not foreclose for a year or more after the bankruptcy was discharged. (Thatâs why I tell people, donât move out!) So that three year waiting period turned into four or five years. On July 29, 2014, Fannie Mae announced a new policy. From now on, the two year after bankruptcy mortgage rule applies. But if you discharge the mortgage debt in your bankruptcy, you do NOT have to wait three years after the actual foreclosure. This means hundred of people I know, and tens of thousands nationally, can buy a house again a year or two sooner.