Your Money: Jun. 1, 1998

CUT YOUR MORTGAGE COSTS

More than a million homeowners overpaying on their mortgages could soon get a windfall. The rebate stems from private mortgage insurance, which lenders require if you borrow more than 80% on a home. Yet many people keep paying the $50 to $150 a month even after their equity has reached 20%. Bills now before Congress would force the private firms to stop the unnecessary charges. But don't wait: check your equity statements now.

INDEX FUNDS WINNING FANS

Mutual funds run by managers tout their stock-picking prowess. But over the past 12 months, only 40% beat the returns...

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