Your Money

By Daniel Eisenberg

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 of funds pegged to broad market indexes. And the index funds offer lower fees and taxes. Little wonder they're growing far faster. Consider funds like the Vanguard Index Total Stock Market, pegged to the Wilshire 5000 index. It's less volatile than the S&P 500, and its stocks are not so richly priced.

I'LL GIVE YOU $90 FOR HAWAII

Tired of searching all over for an affordable summer plane ticket? Now you can let the airlines do it for you. At priceline.com a popular new website, bargain hunters name their price and wait for carriers to come calling. In the site's first six weeks, 10,000 users have bought tickets. Starting in July, online shoppers can take the same approach to find a new car.

--By Daniel Eisenberg