WASHINGTON (AFP) – The question of death and taxes has risen to the fore in Washington as the demise of prominent billionaires has underscored a fluke which allows big estates to escape taxes, but only for this year. Highlighting the conundrum has been the death of wealthy Americans including oil tycoon Dan Duncan and New [...]

NEW YORK (Reuters) – New York Attorney General Andrew Cuomo has subpoenaed six more insurers as the state widens a probe into whether life insurance companies have defrauded families of deceased members of the military. Genworth Financial Inc (GNW.N), Guardian Life of America, AXA SA’s (AXAF.PA) MONY Life Insurance Co, New York Life Insurance Co, [...]

NEW YORK – Mortgage rates dropped to the lowest level on record for the fifth time in six weeks, making homebuying and refinancing the most attractive in decades for those who can get loans. The average rate for 30-year fixed loans this week was 4.54 percent, down from 4.56 last week, mortgage company Freddie Mac [...]

LOS ANGELES – Rosalyn Dalebout rents out space in her home to three tenants, has cut off her phone service and canceled her earthquake and life insurance — all to pay her mortgage every month. So far, she’s one of the lucky ones. More than 1 million American households are likely to lose their homes [...]

NEW YORK (Reuters) – Goldman Sachs Group Inc (GS.N) was sued by Liberty Mutual Insurance Co, which accused the Wall Street bank of fraudulently misleading it into buying preferred stock of mortgage financier Fannie Mae (FNMA.OB) that would become “virtually worthless.” In a lawsuit filed Thursday in Boston federal court, Liberty Mutual said it deserves [...]

NEW YORK – Mortgage rates fell for the second straight week to the lowest point in five decades. But many people either don’t qualify for new mortgages or have already taken advantage of the low rates this year. As a result, the housing market and the broader economy may not benefit much from the lower [...]

GILBERT, Ariz. – If we’re going to search for gold in the wreckage of the mortgage crisis, then 6:57 a.m. in front of 1009 W. Juanita Ave. is as good a time and place as any to start. The Cooper Ranch subdivision, tucked behind an industrial park 25 minutes from downtown Phoenix, is just beginning [...]

An odd scene has been playing out lately in the offices of mortgage brokers and bankers around the country. Mortgage rates have sunk to levels not seen in more than a half-century — a seductive 4.58 percent for an average 30-year fixed loan. Yet brokers and lenders report not a flood but a trickle of [...]

WASHINGTON (Reuters) – The former head of the AIG unit that nearly crippled the insurer said the 2008 taxpayer bailout of up to $182 billion was too generous to customers like Goldman Sachs. Goldman Sachs, in turn, insisted it simply followed its agreement with American International Group and underlying accounting rules in demanding collateral under [...]

NEW YORK – The financial overhaul is about more than exotic derivatives and complex risk assessments. It will change how you interact with the financial system every day, from swiping your debit card at the store to applying for a mortgage. That includes new rules governing how we bank, borrow and invest, plus the creation [...]