Black Empowerment Network

09/28/2022

Let’s elevate and empower! ✊🏾

09/19/2022

Make it a great week!

09/16/2022

Legacy Home Loans under the direction of CEO Ben Slayton (pictured) has launched a “Special Purpose Credit Program” (SPCP) for black people who want to become home owners. They’re calling it “Closing the Gap.”

The program requires just a 1% down payment and includes with free appraisal, free home warranty program, free pre-purchase homebuying counseling, free post-closing homebuying counseling, financial assistance with closing cost.

The Closing the Gap program will use credit guidelines such as on-tie payments to qualify applicants. It will begin as a pilot in limited cities.

What a great way to empower black communities!

09/13/2022

Many generations lose wealth over time. For Black families, wealth attainment typically stays in just one generation. Here are 5 ways Black families can build generational wealth:

1. Talk to your children about wealth

2. Buy a home or invest in real estate

3. Start a business - About 90% of businesses in the US are family-owned!

4. Invest in stocks - Not investing, Black people have “missed out on the roughly 260% returns for S&P 500 funds over the last decade” according to ABC.

5. Establish an estate plan - Partner with an estate attorney to establish a legal and financial plan for how your wealth will be distributed in your absence.

What are some ways you’re working to create generational wealth for your family? Share your thoughts below.

09/10/2022

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09/09/2022

Harris Teeter is helping combat food insecurity among HBCU students.

Five HBCUs over the next five years will receive $50,000 each to keep student food pantry shelves stocked. Food insecurity has seen an increase among college students, in particular HBCUs following the pandemic.

Out of the five schools they’ve partnered with, three are here in North Carolina: Johnson C. Smith University, North Carolina Central University, and North Carolina A&T State University.

This will ensure students have access to fresh and nutritious food, so they can fully focus on completing their education.

09/08/2022

Bank of America has launched a new mortgage pilot, the “Community Affordable Loan Solution,” that allows first time homebuyers to purchase a home with no down payment, no mortgage insurance and no closing costs. The goal is to close the racial homeownership gap, helping low income families in realize the dream of homeownership.

This program is currently only available in markets with predominantly black and hispanic neighborhoods, though it is open to anyone meeting the criteria.

There’s NO MINIMUM CREDIT SCORE required for eligibility

Eligibility requirements include income, property location, positive payment history and completion of an approved homebuyer certification course.

This program has the potential to fuel homeownership growth among the black community if managed properly. What do you think? Share your thoughts below!

08/01/2022

Our sponsored events provide a unique opportunity for diverse community members to strengthen relationships, which ultimately lead to better outcomes for the Black community.

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07/11/2022