Nehemiah
Corporation of California
Changes Its Name to Nehemiah
Corporation of America
Name
Change Reflects National Focus
and Mission
Sacramento,
CA – January 12, 2004 – The
Nehemiah Corporation of California,
the nation’s leading
nonprofit provider of downpayment
assistance, today announced
that it has changed its name
to the Nehemiah Corporation
of America™
“Since
the creation of The
Nehemiah Program® in 1997, we have
helped over 165,000 families
located throughout all 50
states achieve the American
Dream of homeownership. As
the nation’s largest
and most reputable provider
of privately funded downpayment
assistance, our mission has
always been to transform lives
by increasing homeownership
and asset development opportunities
for diverse populations,” said
Scott Syphax, president and
CEO of Nehemiah. “Today,
our mission remains the same,
but our goals and services
have been extended to help
transform entire communities.
Our name change is a symbol
of how far our industry has
come and reflects the growth
of our mission, the breadth
of our reach, and the depth
of commitment to our beliefs
and our goals.”
In 1997, the
Nehemiah Corporation created
and introduced The Nehemiah
Program®. Six years later,
this first-of-its kind program
continues to offer downpayment
assistance to homebuyers who
have the credit and income
necessary to qualify for a
loan, but do not have the
funds needed for a downpayment.
The Nehemiah Program® allows
a gift of up to 6 percent
of the home’s sale price
to be used for the downpayment
and/or closing costs.
As of December
31, 2003, The Nehemiah Program® has
provided over $600 million
in gift funds to more than
165,000 families in 8,258
cities, throughout the 50
states, plus the District
of Columbia. These purchases
represent $20 billion in real
estate transactions. In addition,
Nehemiah has spawned an industry
that has helped more than
300,000 families become homeowners,
and is now responsible for
nearly 5 percent of all monthly
home sales nationwide.
"Nehemiah,
through its partnership with
the U.S. Conference of Mayors,
has been able to help mayors
across the country address
affordable housing problems
in their communities," said
Tom Cochran, Executive Director
of the U.S. Conference of
Mayors. "Mayors understand
how valuable and important
new homeowners are to the
vitality of cities, and Nehemiah
is helping to make that possible."
About Nehemiah
Corporation of America
Founded in 1994, Nehemiah
Corporation of America is
a Sacramento-based nonprofit
organization committed to
empowering lives and enriching
communities nationwide. Nehemiah
transforms lives by increasing
homeownership opportunities
for diverse populations, while
maintaining its commitment
to successful, responsible
homeownership. Nehemiah transforms
communities by expanding its
faith-based, charitable and
community development initiatives
into underserved neighborhoods
across America. In 1997, Nehemiah
launched its flagship program,
The
Nehemiah Program®,
to provide down payment
assistance to homebuyers.
To date, Nehemiah
has provided more than $600
million in down payment assistance
gifts, resulting in $20 billion
in real estate transactions
and has helped over 165,000
families and individuals achieve
their dream of homeownership.
Committed to comprehensive
community reinvestment, Nehemiah
has fostered partnerships
with Habitat for Humanity,
HomeAid America and the US
Conference of Mayors. In addition
to providing downpayment gift
assistance, Nehemiah has created
other programs that work to
enrich communities including:
Nehemiah
Community Reinvestment Fund™,
Nehemiah Community Foundation™
and Nehemiah Urban Ministry™
Initiatives.
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