Finance News Blog http://www.financenewsblog.com Personal Finance News and Tips Thu, 09 Oct 2008 18:48:12 +0000 http://wordpress.org/?v=2.2 en Virgin America Launches Visa Signature Card http://www.financenewsblog.com/virgin-america-launches-visa-signature-card/ http://www.financenewsblog.com/virgin-america-launches-visa-signature-card/#comments Thu, 09 Oct 2008 18:45:22 +0000 http://www.financenewsblog.com/virgin-america-launches-visa-signature-card/ October 9, 2008 By Justin McHenry

Virgin America, the U.S.-based airline partially owned by Richard Branson’s Virgin Group, is set to launch a Visa Signature credit card that will give cardholders the ability to earn the airline’s Elevate frequent flyer points for card purchases.

The Virgin America Visa will offer triple Elevate points on Virgin America purchases, and 1 point per dollar on all other purchases. Those who sign up by November 30 and use the card by January 31, 2009 will also get a bonus of a free one-way ticket on Virgin America.

Virgin America is a newer airline, launched in August of 2007 and based out of San Francisco. While it is partially owned by Branson’s Virgin Group, it is not connected with the larger Virgin Atlantic that calls London home.

]]> http://www.financenewsblog.com/virgin-america-launches-visa-signature-card/feed/ Tenancy In Common And Property Ownership http://www.financenewsblog.com/tenancy-in-common-and-property-ownership/ http://www.financenewsblog.com/tenancy-in-common-and-property-ownership/#comments Thu, 09 Oct 2008 01:00:00 +0000 http://www.financenewsblog.com/tenancy-in-common-and-property-ownership/ A Think Glink reader writes that her father bought some property in Missouri and changed the ownership from joint tenants with right of survivorship to tenancy in common. The father later signed a quit claim deed giving his interest in the property to his daughter. What does tenancy in common mean for property ownership? Is the property ownership divided equally so everyone gets the same amount of land? Sam and Ilyce advise that state laws and how the father changed the joint tenancy will determine the answer to the property ownership. 

]]> http://www.financenewsblog.com/tenancy-in-common-and-property-ownership/feed/ Foreclosure Prevents Contractor From Being Paid http://www.financenewsblog.com/foreclosure-prevents-contractor-from-being-paid/ http://www.financenewsblog.com/foreclosure-prevents-contractor-from-being-paid/#comments Thu, 09 Oct 2008 01:00:00 +0000 http://www.financenewsblog.com/foreclosure-prevents-contractor-from-being-paid/ A contractor writes that a mortgage company owes him payment for work on a fire-damaged home. The contractor nearly finished the work and then the mortgage company foreclosed on the home and halted payment to the contractor. What can the contractor do to get his money? Sam and Ilyce advise filing a mechanic’s lien against the property. 

]]> http://www.financenewsblog.com/foreclosure-prevents-contractor-from-being-paid/feed/ Daughter Assumes Mortgage Payments http://www.financenewsblog.com/daughter-assumes-mortgage-payments/ http://www.financenewsblog.com/daughter-assumes-mortgage-payments/#comments Thu, 09 Oct 2008 01:00:00 +0000 http://www.financenewsblog.com/daughter-assumes-mortgage-payments/ A Think Glink reader asks about adding her daughter’s name to the deed of her home since the daughter has started to make mortgage payments for her parents. Ilyce discusses the implications of the daughter assuming the mortgage and how to protect both the parents and the daughter in the transaction. Ilyce mentions that there have been incidents where the children assuming the mortgage have evicted their parents. Another option is to add the daughter’s name to the house deed in addition to the names of the parents. 

]]> http://www.financenewsblog.com/daughter-assumes-mortgage-payments/feed/ Buying Real Estate During Economic Crisis http://www.financenewsblog.com/buying-real-estate-during-economic-crisis/ http://www.financenewsblog.com/buying-real-estate-during-economic-crisis/#comments Thu, 09 Oct 2008 01:00:00 +0000 http://www.financenewsblog.com/buying-real-estate-during-economic-crisis/ Buying real estate during the economic crisis has become more difficult. Ilyce describes the current economic crisis, including the drop in retirement savings and a rise in the unemployment rate. Ilyce explains how these factors affect the real estate market and home buyers. In this economic crisis, mortgage lenders have tightened lending requirements making it more challenging to obtain a home loan. But if you’re in a stable situation with a good credit score you may still be able to refinance your mortgage loan. You can also learn about a new Money Management International program for home buyers in this Think Glink column. 

]]> http://www.financenewsblog.com/buying-real-estate-during-economic-crisis/feed/ Owner Financing Risks Require Due Diligence http://www.financenewsblog.com/owner-financing-risks-require-due-diligence/ http://www.financenewsblog.com/owner-financing-risks-require-due-diligence/#comments Thu, 09 Oct 2008 01:00:00 +0000 http://www.financenewsblog.com/owner-financing-risks-require-due-diligence/ A Think Glink reader asks about offering owner financing on a home he’s selling. He wants to know what’s involved in owner financing and who to involve in the transaction. Ilyce discusses how to assess whether a potential home buyer will make the home mortgage payments and what to do if the buyer later stops making payments. When a seller sells a home with owner financing it’s as if the seller becomes a mortgage lender or bank. That means the seller may have to be willing to foreclose in an owner financing situation. Learn more about owner financing in this Think Glink column. 

]]> http://www.financenewsblog.com/owner-financing-risks-require-due-diligence/feed/ Owner Occupied Status Affects Mortgage Refinancing http://www.financenewsblog.com/owner-occupied-status-affects-mortgage-refinancing/ http://www.financenewsblog.com/owner-occupied-status-affects-mortgage-refinancing/#comments Thu, 09 Oct 2008 01:00:00 +0000 http://www.financenewsblog.com/owner-occupied-status-affects-mortgage-refinancing/ A renter asks about an owner-occupied requirement with regard to mortgage refinancing. The renter says his landlord has refinanced the property twice, each time claiming he lives there. The renter wonders if the landlord breaks the law by claiming the property is owner-occupied during a mortgage refinance. Ilyce asks how the renter knows how the landlord refinanced the property and explains that circumstances may change after the mortgage refinance occurs and that lenders don’t have time to follow up. 

]]> http://www.financenewsblog.com/owner-occupied-status-affects-mortgage-refinancing/feed/ Quit Claim Deed Can Split Community Property http://www.financenewsblog.com/quit-claim-deed-can-split-community-property/ http://www.financenewsblog.com/quit-claim-deed-can-split-community-property/#comments Sat, 04 Oct 2008 01:00:00 +0000 http://www.financenewsblog.com/quit-claim-deed-can-split-community-property/ A ThinkGlink reader living in a community property state asks about removing a co-owner from a mortgage and property’s deed. The co-owner has not contributed to the maintenance or mortgage of the property. One option is to have the co-owner sign a quit claim deed. Sam and Ilyce advise trying to amicably separate first and if that does not work the property owners should contact a real estate attorney.  

]]> http://www.financenewsblog.com/quit-claim-deed-can-split-community-property/feed/ Partnership Agreement Prevents Home Sale Woes http://www.financenewsblog.com/partnership-agreement-prevents-home-sale-woes/ http://www.financenewsblog.com/partnership-agreement-prevents-home-sale-woes/#comments Sat, 04 Oct 2008 01:00:00 +0000 http://www.financenewsblog.com/partnership-agreement-prevents-home-sale-woes/ A ThinkGlink reader asks about splitting up the investment in a condo after it’s sold. Two friends contributed to the condo’s down payment but only one of their names is on the mortgage. How much of the proceeds are each of them entitled to after the sale? Can the friend who’s not responsible for the mortgage claim a significant amount of the sale proceeds? Sam and Ilyce advise contacting a real estate attorney to determine who gets what and to set up a partnership agreement the next time someone buys property with a friend. 

]]> http://www.financenewsblog.com/partnership-agreement-prevents-home-sale-woes/feed/ Fire Damage Jeopardizes Short Sale http://www.financenewsblog.com/fire-damage-jeopardizes-short-sale/ http://www.financenewsblog.com/fire-damage-jeopardizes-short-sale/#comments Fri, 03 Oct 2008 01:00:00 +0000 http://www.financenewsblog.com/fire-damage-jeopardizes-short-sale/ A ThinkGlink reader writes that fire damaged a home he bought in a short sale. While the home seller had insurance, the insurer had the seller make the repairs. The home buyer worries the repairs are substandard but there’s no building code for the home’s location. What can the seller do to get out of the contract? Ilyce suggests contacting a real estate attorney to figure out his options. 

]]> http://www.financenewsblog.com/fire-damage-jeopardizes-short-sale/feed/