The Propeller – Help! Stuck in Space, Fighting Deed Fraud, and Maxing Out My Credit Card for Oxygen 🚀💳🏠- 6-30-2024

“Just sit right back and you’ll hear a tale,
A tale of a fateful trip
That started from this tropic port
Aboard this tiny ship.”
 

Under normal circumstances, many of us would be tempted to extend our stay on vacation. However, for Suni Williams and Butch Wilmore, their extended stay is entirely work-related—and they’re stuck in outer space. They embarked on their space mission on June 5th, initially planned to last just 8 to 10 days. But much like the TV show “Gilligan’s Island,” instead of being stranded on an island, they find themselves stranded in space.

Boeing’s Starliner has faced numerous issues even before its launch. After dealing with helium leaks and thruster malfunctions, NASA delayed the astronauts’ re-entry by two days. When it became evident that the mechanical problems couldn’t be fixed promptly, the timeline was extended by another two weeks.

Now, after further evaluation and unsuccessful repair attempts, NASA estimates that the Starliner’s return voyage will be in July. The spacecraft can only remain docked at the International Space Station for 45 days, giving NASA and Boeing until July 21 to devise a solution.

Each passing day brings them closer to a critical deadline.

Despite the setbacks, NASA’s Commercial Crew Program manager, Steve Stich, remains hopeful, stating he “doesn’t see any scenario where Starliner is not going to be able to bring Butch and Suni home.”

Steve, forgive us for being a bit skeptical. Boeing hasn’t been hitting the mark on quality control recently.

Homeowners, buyers, and real estate agents should be on alert: scammers are attempting to sell properties they don’t own in a scheme known as deed fraud. If you fall victim to this scam, it can be incredibly difficult to resolve.

Here’s how the scam typically unfolds:

• A scammer pretends to be the owner of a property or vacant land.
• They ask a real estate agent to list the property.
• They provide false identification to prove ownership.
• If the transaction proceeds, the scammer takes the money and disappears.
• The buyer is left with a property that isn’t legally theirs.

Those most likely to be targeted are homeowners with significant equity, often those who have paid off their mortgage and have no liens on their property. Senior citizens, in particular, are prime targets, as well as owners of second homes.

Here’s how to protect yourself:

If you’re a buyer or real estate agent:

• Don’t rush into any listing agreements.
• Request photo identification from everyone involved in the transactions.
• Ensure that all owners sign agreements if the property has multiple owners; this includes siblings, spouses, and LLC members.
• Use resources from the auditor’s website or recorder’s office to verify ownership details and confirm the authenticity of documents.

If you’re a homeowner:

• Consider setting up property monitoring. Most auditors or recorders’ offices offer this service and will notify you of any activity on your property. For example, Franklin County Recorder offers a free service called “Property Alert” (accessible at https://recorder.franklincountyohio.gov/Services/Property-Alert). Your county should have a similar service.
• Regularly review your credit report.

Thanks for the tremendous response last week on those willing to assist with my upcoming book.  I’m still looking for a few more!  Reach out to me if you are interested.

I am thrilled to announce that my upcoming book, 28 Days to Be an Author (this is a working title only), is nearing completion, and I would love to invite you to be a part of its final stages. As loyal readers of The Propeller, your insights and opinions are incredibly valuable to me. I am offering an exclusive opportunity to receive an early electronic copy of the book. In return, I kindly ask for your feedback on the content, including any errors you might spot and any additional advice you can provide to enhance the book.

Your participation in this review process will not only help me polish the manuscript but also ensure that it meets the highest standards before its official release. If you are interested in joining this exciting endeavor, please email me ( leonard@leonardmack.com ) to be part of this early access program. Your contributions will be greatly appreciated and acknowledged. Thank you for your continued support and enthusiasm for my work!

I’ve had enough of the bad money advice that seems to be everywhere—on YouTube, Facebook, X, in mainstream media, and from so-called “personal finance experts.” The prevalence of poor advice is so high that many people end up believing it.

Today, I want to tackle one piece of advice that drives me absolutely bananas: “Never use credit cards.”

This advice is ludicrous.

Using credit cards isn’t inherently bad. In fact, when used responsibly, credit cards offer numerous benefits. They can save you money with implied warranties, provide cashback, and offer travel perks like free or discounted hotel stays, airfare, and rental cars. Plus, they come with fraud protection.

I recently logged into one of my credit card accounts and found that I had 145,000 points accumulated just by spending as usual. These points can be redeemed for free flights, rental cars, hotel stays, and even converted to cash. This card also extends warranties on most electronics purchased with it.

Credit cards can be incredibly beneficial—if used responsibly. This is key. The reason why total consumer debt in the United States is approaching $16 trillion is that too many people use credit cards to spend money they don’t have.

Here’s how to use credit cards the right way:

• Always pay off your balance every month (setting up autopay can help).
• Never buy things without having the cash to immediately pay for them.
• Resist the temptation to spend extra money just to earn more reward points.

Treat your credit card like cash. Then, enjoy the rewards you earn simply by being responsible.

Have a Happy Independence Day this week!

This is re-published from the weekly email sent by Leonard Mack entitled The Propeller. To subscribe, visit https://www.LeonardMack.com/subscribe and read it every Sunday evening.

This intellectual nourishment is intended for informational purposes only. One should not construe anything herein as being legal, tax, investment, financial, or other advice.

My rule is this – I have no advice to give, only experience to share. I have no interest in being a guru or telling people what they should do. Rather, I share my own experience because there is no right or wrong. Your mileage may vary.