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How Not to Break the Bank This Holiday Season The holidays are almost here. Get ready for festive parties, family gatherings, and...financial stress? Hold up, let's scratch that last one. The holidays should be a time for celebration, not financial frustration, yet why do so many people find themselves worrying about their bank accounts this time of year? With the amount of commercialism we're bombarded with around the holidays, it's tempting to splurge on all the latest gifts and gadgets, but doing so without a plan can get you in a sticky financial situation. This year, follow these five tips to help you celebrate the holidays without breaking the bank. Make a list (and a budget) From the get-go, create a list of who/what you need to buy for, and assign a dollar value to each. Knowing how much you can spend will help keep you on track throughout the season, and if you stick to it, you should be able to avoid those bank account notifications containing the dreaded "overdraft" word. Most importantly, consider the consequences if you go over budget, such as paying overdraft fees or credit card interest if you cannot pay your balance in full. Look for deals As you tackle your holiday shopping, be strategic about finding the best deals. Black Friday, Small Business Saturday, and Cyber Monday are the most obvious times to snag a deal, but you can also check with your favorite stores to find out when ...

News

Yesterday the House Republican Party’s “Tax Cuts and Jobs Act” was publicly released and many are wondering what the proposal will actually mean for American homeownership. Here is a summary of what we understand the act to have proposed and what changes could be implemented: Mortgage Interest Deductions: The most dramatic change in the proposal is reducing the allowable mortgage interest deduction cap to $500,000. Currently, homeowners can itemize their mortgage interest as a tax deduction for interest paid on up to $1 million in principal mortgage balance. As proposed, this would primarily affect areas of homes that typically have more than $500,000 borrowed for the mortgages and especially states, such as California, where average home prices are among some of the highest in the nation. Per the reports, the plan will apply to newly purchased homes and will grandfather in current homeowners for the current $1 million maximum. Property Tax Deductions: Another significant element to the proposal is limiting property tax deductions to $10,000. As home prices have increased, we have also seen a rise in property taxes, and this cap would likely affect the same aforementioned group of people that are purchasing higher priced homes and other homeowners that live in areas with rising property tax rates. Capital Gains Exemptions: In addition, sources say the plan proposes to alter the capital gains tax rules. Under the proposal, the exemption can only be claimed on primary residences that have been occupied for at least 5 years ...

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BankSouth Mortgage Names Alan Kennedy as Vice President Kennedy will serve as an officer while continuing to oversee origination efforts from the company’s branch in Athens, Georgia ATLANTA (October 25, 2017) – BankSouth Mortgage announced today the designation of Vice President to Alan Kennedy , Producing Branch Manager for Athens, Georgia, and surrounding markets. In his role, Kennedy will serve as an officer for the organization while continuing to oversee the production and origination efforts of the company’s Northeast Georgia team, located in Athens. “Alan has been an integral part of the success we've enjoyed in Athens and the surrounding markets for BankSouth and BankSouth Mortgage since he joined the Enterprise in November of 2014,” BankSouth Mortgage CEO Kim Nelson said. “This designation reflects his hard work and dedication to our company. BankSouth Mortgage is committed to providing quality and excellence without compromise, and our Athens team brings these shared values.”

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BankSouth Mortgage Brings Down Payment Protection to the Georgia Market New Home Mortgage Program Provides Greater Security to Georgia Homebuyers if They Have to Sell at a Loss, Empowering Them to Buy With Confidence ATLANTA, October 4, 2017 – BankSouth Mortgage today introduced BankSouth Mortgage +Plus, an innovative product that gives Georgia homebuyers greater control by protecting their down payment against potential future drops in market prices. Included as a feature of BankSouth Mortgage +Plus loans, +Plus SM down payment protection enables homebuyers to buy with confidence knowing that they can recover up to their full original down payment should they need to sell their home in a down market.   With BankSouth Mortgage +Plus, if the local real estate market is down when the homeowner needs to sell their home, within 2-7 years, they will still be reimbursed by ValueInsured up to the full amount of their down payment if all program requirements are met. “We’re always looking for ways to better meet our customers’ needs and enable them to buy homes in ways that are most rewarding to them,” said Kim Nelson, CEO of BankSouth Mortgage. “With BankSouth Mortgage +Plus, we’re able to provide our customers more security and flexibility when buying their dream home.” “As a leading lender in the Georgia market, we’re excited to have BankSouth Mortgage join our team of forward-thinking lenders and provide their customers with our +Plus down payment protection,” said Joe Melendez, CEO of ValueInsured , the provider of +Plus down payment protection. “By offering their ...

News

Equifax Breach

Sep 15
9:00
AM
Category | News
By now you have likely heard of the reported Equifax breach.  BankSouth is committed to doing everything we can to help our customers address concerns.  While there are still many questions, you as a consumer do have options to help protect your identity.  Below are available resources to help you protect yourself against possible identity fraud.  As always, please contact us if you have any questions.  You can visit the Equifax website to determine if you’ve potentially been impacted and sign up for the free credit monitoring services being offered:  www.equifaxsecurity2017.com .  Check identity protection resources and checklists that are available from the Federal Trade Commission ID Theft website:  www.identitytheft.gov/info-Lost-or-Stolen

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