Business

Business

Real estate Q&A: How to deal with an 'underwater' mortgage

Q: Back during the real estate bust, we fell behind on our mortgage and worked with our lender to get a loan modification. The lender added the delinquent amount to the end of the mortgage. Now, almost 10 years later, we have retired and are looking to relocate to a smaller house. Although our home's value has increased, we still are "underwater" on the mortgage due to the modification. We contacted our bank, but we were told that there was no help for our fairly unique situation. There's nothing we can do?

Business

The Mortgage Professor: If you need a mortgage, you need an appraisal

Q: I used your website to connect with one of your certified loan providers. While I provided in a timely manner all the documentation they asked for, the lender did not close within the lock period and is now asking me for $1,000 extra to cover a rate lock extension. The lender says that the holdup was due to the property appraisal not getting done on time because of a shortage of appraisers in Oregon, where I live, and that this was outside of their control. What is your advice in this situation?

Business

Clinton vows to retaliate against foreign hackers

Hillary Clinton is vowing anew to respond to foreign hacking the same as any other attack against the United States. When she openly blamed Russia for recent U.S. cyber break-ins, Donald Trump wondered whether to blame overseas governments or overweight hackers working from home.

Videos

Los Banos 99 Cent Only Store Grand Opening

The new 99 Cent Only Store at 1209 W. Pacheco Blvd. in Los Banos holds a grand opening ceremony May 25, 2016.
sjansen@mercedsunstar.com
Los Banos 99 Cent Only Store Grand Opening 1:13

Los Banos 99 Cent Only Store Grand Opening

Los Banos 99 Cents Only Store prepares for grand opening 0:58

Los Banos 99 Cents Only Store prepares for grand opening

How Yosemite National Park influences the Valley's economy 2:21

How Yosemite National Park influences the Valley's economy

Atwater coach David Svendsen talks about Falcons big win over Merced 1:40

Atwater coach David Svendsen talks about Falcons big win over Merced