By Dana Bykowski
September 9, 2002

The Nehemiah Corporation of California, a leading nonprofit provider of down payment assistance, and Profina Debt Solutions, a national nonprofit credit counseling organization, recently announced an exclusive partnership to create the first consumer credit counseling and home buying referral network. Through this exclusive partnership, consumers looking to use The Nehemiah Program¨ for down payment assistance, who lack the necessary credit to qualify for a home loan, will be referred to Profina for credit counseling and debt management solutions. Fulfilling a much-needed service for builders, realtors, and mortgage lenders, the Profina/Nehemiah referral network will significantly increase the pool of qualified homebuyers who have the education and discipline to remain responsible homeowners. The referral network will initially be rolled out in several select markets across the country iA unique partnership, the Profina Debt Solutions/Nehemiah referral network provides a dual solution to the primary barriers preventing individuals from becoming homeowners. Those barriers include the lack of funds for the down payment and closing costs on a home and a satisfactory credit rating to qualify for a mortgage loan. The network offers the tools and resources necessary to ensure that credit-impaired families have the opportunity to enjoy the financial freedoms associated with a solid credit rating and homeownership. Interested parties should contact the Profina & Nehemiah Path to Homeownership to determine if the network is available in their area at 1-877-NEHEMIAH.

A unique partnership, the Profina Debt Solutions/Nehemiah referral network provides a dual solution to the primary barriers preventing individuals from becoming homeowners. Those barriers include the lack of funds for the down payment and closing costs on a home and a satisfactory credit rating to qualify for a mortgage loan. The network offers the tools and resources necessary to ensure that credit-impaired families have the opportunity to enjoy the financial freedoms associated with a solid credit rating and homeownership. Interested parties should contact the Profina & Nehemiah Path to Homeownership to determine if the network is available in their area at 1-877-NEHEMIAH.

"With homeownership being the cornerstone to family wealth, it is important that more Americans are aware of their debt and manage it responsibly," said Scott Syphax, President and CEO of Nehemiah. "As the gold standard in consumer debt management solutions, Profina's first-rate programs steadily generate well-educated financially sound individuals. With a solid track record of successful program graduates, Profina is the ideal partner for this consumer credit/homeownership referral network. By working together, we will be opening the doors to financial freedom and enabling more families to experience the American dream of homeownership."

"At Profina Debt Solutions, we are focused on providing a service that adds value and discipline to the lives of debt-burdened consumers," said Robert Closs, president of Profina Debt Solutions. "Because money management is an acquired skill, we tailor programs to fit the income levels, lifestyles and financial goals of each individual customer. More often than not, a consumer's primary financial goal is to purchase a home, making our partnership with Nehemiah ideal. We commend Nehemiah for its ongoing efforts towards helping families create sustainable wealth through homeownership, and we are certain that our referral network will be successful."

"Identifying credit-qualified buyers is one of the biggest challenges that we face in our industry. We have found that many potential homebuyers, regardless of race and income level, suffer from some sort of credit issue, which prevents them from becoming homeowners," said Paul Shoopman, president of Dura Companies. "We have looked into several alternatives for eliminating this barrier and we are confident that the Profina/Nehemiah referral network is the ideal solution. We are thrilled that Nehemiah is providing this service, it will certainly increase our opportunity to provide quality, affordable housing to central Indiana homeowners."

Nehemiah Corporation is a partner with the U.S. Conference of Mayors through the CitiesFirst® program, a public-private initiative focused on community and economic development and affordable homeownership.