Personal FinanceAP - The parents of six deceased U.S. soldiers are suing Prudential Financial, saying it paid paltry interest on military life insurance benefits while keeping more generous interest earnings for itself.
Personal Finance
Forget Treasuries. Buy Convertibles Instead. (The Motley Fool)
The Motley Fool - The recent pullback in the stock market has many investors running for cover. Meanwhile, fear of an imminent double-dip recession and concerns about renewed pressure in the housing market has pushed bond prices to historic highs, reducing bond yields and creating an income crunch for savers. Throughout 2010, billions of dollars have gone into bond mutual funds, and the trend shows no sign of reversing anytime soon.
Cheaper Reverse Mortgages May Be Coming (U.S. News & World Report)
U.S. News & World Report - The Federal Housing Administration (FHA) is developing a new reverse mortgage product that sharply cuts up-front payments by home owners but also significantly reduces the percentage of a home's equity that can be paid to owners under the program. Reverse mortgages insured by the government are available on homes where the youngest owner is at least 62 years old. The program is called a Home Equity Conversion Mortgage (HECM).
Business events scheduled for the coming week (AP)
AP - WASHINGTON — Commerce Department releases personal income and spending for July, 8:30 a.m.
Business events scheduled for the coming month (AP)
AP - WASHINGTON — Commerce Department releases personal income and spending for July, 8:30 a.m.
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