Southern Bancorp Community Partners Receives $2 Million Gift from Philanthropist MacKenzie Scott
Little Rock, Ark. – Southern Bancorp Community Partners (SBCP), a 501(c)(3) loan fund and Community Development Financial Institution (CDFI) announced today that it has received a $2 million gift from philanthropist MacKenzie Scott. SBCP serves economically...
Southern Bancorp Community Partners announces policy brief and webinar addressing debt in Mississippi
LITTLE ROCK, ARK – Southern Bancorp Community Partners (SBCP) recently published Deferred Dreams: How Unmanageable and Abusive Debt Hinder Savings and Economic Security in Mississippi, a policy brief that explores how historic levels of debt have proved an impediment...
10 Questions First-time Homebuyers Need to Ask Before Signing
By Charlestien Harris Right now the housing market is booming and a lot of people are shopping for a mortgage. Low interest rates and more options for refinancing are driving the market. This process can be stressful and time-consuming, especially if it’s...
Homebuyer Education During the Pandemic
Thanks to low mortgage interest rates, for some buyers this is the perfect time to think about purchasing a home. The best time to take a homebuyer education class is when you are starting to consider buying a home, not after you’ve already signed on the dotted line....
How to Handle an Overdue Mortgage
By Charlestien Harris The stress of not being able to make mortgage payments and other financial obligations because of the pandemic or any hardship can be overwhelming, but sometimes just knowing where to turn for help can give us a sense of relief. The CARES Act...
Tax Time is Savings Time in Mississippi
Mississippi Governor Tate Reeves signs a proclamation designating Mississippi Saves Week. Last week, Governor Reeves signed HB 597 into law, adding a second line for savings for the 2021 tax year. By James Owen Mississippians have a powerful new tool to save money,...
Southern Bancorp Statement on CFPB Decision to Remove Payday Lending Rule
On July 7, the Consumer Financial Protection Bureau (CFPB) announced that it had revoked the mandatory underwriting provisions of the 2017 Payday Lending Rule. This removed the requirement that payday lenders first determine a potential borrower’s ability to repay...
Homeownership: Knowing Your Numbers Can Make the Difference
I have been scanning the news lately and have read several articles about the housing market during this pandemic. To most analysts’ surprise, the housing market has been booming. According to the latest data the fixed interest rates for a 30-year mortgage is...