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Matt Pollina's Answers

Can our mortgage be modified or refinanced.
I can probably get you qualified if your middle score is 640 or above and your loan was taken out prior to June 1st, 2009. I should be able to get you around 4.00% with $0 closing costs- NOT 'rolled into the loan' but a true $0 closing cost loan. Contact me at Smart Mortgage...
Is there a way to refinance a conventional loan without an appraisal?
If you last refinanced prior to June 1st 2009 then you may qualify for the HARP2.0 program. I will be happy to help you. You can contact me at 847.322.4720.
Can a reverse mortgage be refinanced?
The post below is very good. If you would like a quote from someone in your area, please contact me. In the state of Illinois, you have to get counseling first. This can be done over the phone or in person. This helps ensure that you are completely aware of everything involved. -Matt Pollina847.322.4720630.904...
Mortgage company screwed up my escrow transfer is now lying
When did you close? Matt PollinaSmart Mortgage Centers, Inc.Naperville, Il
Getting quotes through lender 411
Hello Icehou_129_819. Please make sure that when you are getting quotes that you are comparing 'apples to apples.' What I mean by this is that there are several factors that go into both the quote you are getting and the information it is based on. One lender may be basing a general quote on top...
can i buy a home with a bankruptcy
Here is the waiting period breakdown: Fannie Mae and Freddie Mac- Chapter 7 is 4 years from discharge or dismissal date. Chapter 13 is usually 2 years from discharge date. FHA and VA- Chapter 7 is 2 years from discharge date. Chapter 13 is 1 year of payout must elapse and payment performance mus be...
LTV 132% need a lender!
Unfortunately, many lenders may be hesitant to look at refinancing a mortgage for that amount. You may want to look at not going for the HARP program and ask any realtors you may know what they think the value of your home may be. If they can give you a range it may be worth getting an appraisal, You may get...
Is there any refinance program available for an underwater FHA condo?
If you currently have an FHA loan and your condo is still approved by the FHA, then you should definitely contact a local lender and inquire about the FHA Streamline.
Is there such a thing as a no cost HARP refinance?
Yes there is although some answers here are correct in that the rebate from a slightly higher rate cover the costs. I have closed several of these loans and being a wholesale lender, my rates on no cost options are still better than most. Please see my Blog entitled 'Mortgage Rates and Fees...
What is a local non bank lender
We are a Mortgage Broker with wholesale, tier 1 pricing. This means that I can do your shopping for you and find the best program for your specific scenario. Being a broker, I am 100% compensated by the lender- not you. In addition, I can usually find some of the lowest rates available and at the same time...
can i refinance my agriculture zoned property with residential loan now that I have a dwelling on it (california)?
You should definitely contact a local broker. Usually brokers work with several different lenders. The good brokers have established relationships with various lenders and will be able to either contact an underwriter directly or use their account executive as a middle man to the underwriter. If...
If I get a loan modification through HAMP, will my credit be affected?
You may want to see if you qualify for HARP 2.0 first. Go to and if your loan was acquired by Fannie Mae prior to June 1st of 2009 and you have made all your payments on time for the past 12 months, then you should qualify. Modifications do happen however, I have...
my bankruptcy was discharged in july 2012 is it to soon to apply for a mortgage?
For Conventional- 4 years from discharge of Ch. 7 and 2 years for Ch. 13. For FHA- 2 years.
What is the maximum loan amount in ct to still stay within conventional mortgage
The typical conventional loan limit is $417,000.00. Go here for more information:
What's the best mortgage to get after a bankruptcy?
As stated here many times, FHA loans are typically the easiest to obtain after a BK. They allow for lower credit scores, higher loan to value and shorter 'cooling off' period. Be sure to not be more than 30 days late on any consumer debt following the BK!
What fees can I expect to pay for an FHA streamline refinance?
Especially if you qualify for the streamline you should shop around. I am only licensed in IL but have closed several FHA streamlines where there was enough lender credit to not only cover the lender fees but the ufmip and in many cases the escrow reserves as well. Several times I was also able to have so...
Did you try the HARP 2.0 program? Go to these websites, fill out the info and if your loan was acquired by either entity prior to June 1st of 2009 then find a lender/broker and ask them about HARP.
is there a restriction on adding a spouse to the mortgage and qualifying for the Harp 2.0 program?
It is NOT easy to Remove a borrower however, it IS easy to add a borrower under the HARP 2.0 program.
What are my options if I have a conventional loan that is not owned by Fannie or Freddie that is underwater?
It depends on if it is truly underwater. There are lenders that will loan up to 95% of the value of the home for conventional and 97.75% for FHA. Otherwise you can contact your current lender and see if they will help you.

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