Futures Home Assistance Program Launches Spanish Department for Hispanic Customers in U.S.

Business Editors

STOCKBRIDGE, Ga.--(BUSINESS WIRE)--April 23, 2002

-- Futures Adds Puerto Rico as its Newest Territory

-- FHAP Names Aida Perez Director of Department Responsible for Assisting
Hispanic Homebuyers in Obtaining Down-Payment Assistance

Futures Home Assistance Program, a non-profit organization that offers gift funds for down payments to qualified homebuyers, announced today the creation of a department specifically designed to meet the linguistic and financial needs of Hispanic communities throughout all 50 states.

Futures also announced the opening of an office in San Juan, Puerto Rico.

Based on the U.S. Census figures from 2000, the Hispanic community in the United States is the fastest growing demographic in the country. Unfortunately, Hispanics are noticeably underserved by most national businesses, particularly in the Real Estate market. FHAP's Executive Director, Edward P. Hays, said it was vital to open up the down payment assistance program to the Hispanic population, and to demonstrate that, Hays announced that Futures Home Assistance Program has extended all aspects of its programs to Hispanics who might not otherwise investigate the opportunity of home ownership, due to language barriers.

"When the foundation began in 2000, our goals were clear," Hays said. "We wanted to provide a no-strings-attached way for people to purchase homes by offering them down-payment assistance, and we wanted to do so by not only making the process easy, but offering superior customer service at every turn. Once we began making Futures a common name among realtors, mortgage lenders and customers, we wanted to make our program accessible to more than just English-speaking homebuyers throughout the United States. Launching our Spanish Department is an exciting step for us, and we look forward to giving Hispanic communities all across the U.S. and Puerto Rico the same high quality of customer service and attention as we have to their English-speaking counterparts."

In addition to the rollout of its Spanish Department, Futures Home Assistance Program announced today that it has also opened offices in San Juan, Puerto Rico. Upon receiving approval from the Puerto Rican government to offer down-payment assistance to U.S. citizens in the Commonwealth of Puerto Rico, Futures announced the hiring of Carlos Torres as Regional Director of Puerto Rico. Torres earned a Bachelor of Arts in Education from the University of Puerto Rico and has previously been employed with JA Gonzales and PanAmerican Financial in San Juan.

Torres will report to Aida Perez, who has been named the Spanish Program Director, overseeing all operations in the entire Spanish Department. Perez will be responsible for the development of a marketing approach and grassroots outreach efforts to Hispanic communities around the U.S., including states where the Hispanic populations are growing at increasingly rapid rates, such as Florida, Texas, California, Arizona and Georgia, to name a few. She will oversee operations in the Spanish Program throughout the Commonwealth of Puerto Rico, as well.

Perez began her career with Futures in Aug. 2001 after moving to the Atlanta area from her native Puerto Rico. She was previously employed as the Director of Public Relations for the Puerto Rican government. Perez earned a Bachelor of Arts in Education from the University of Puerto Rico, and was employed as a Spanish teacher on the university level for years before accepting the job with the Puerto Rican government.

"I am so proud to work for Futures," Perez said. "The foundation's commitment to making homeownership a reality for people who might not otherwise think they can afford to buy a home is incredibly fulfilling, and helping others achieve that dream makes those of us working for Futures very happy. Futures is unparalleled in its efforts to serving hard-working families all over the U.S. and Puerto Rico, and I am excited and honored to serve our customers through the Futures Spanish Department."

"I believe Aida and Carlos have the knowledge and experience to bring the foundation to a new and very exciting level," Hays said. "Futures could not be happier about the promotion of Ms. Perez and the hiring of Mr. Torres, and we are extremely proud to offer them as our ambassadors to all Hispanic people whose dream is to own their own home. I look forward to working with Aida and Carlos as we expand our foundation by creating accessibility to as many potential homeowners as possible."

ABOUT FUTURES HOME ASSISTANCE PROGRAM

Futures Home Assistance Program is a nationwide non-profit organization that assists homebuyers in obtaining gift funds to use for down payments or closing costs on loans for new or resale homes. Established in 2000 by Edward P. Hays, Executive Director of the foundation, Futures is headquartered in Stockbridge, Georgia.

Futures raises funds to help qualified homebuyer's requirements of funds needed for purchases. There is no obligation for repayment of these funds by the homebuyer, and no lien or mortgage placed against a participating property. The gift funds, which can be offered up to 6% of the entire cost of the loan, may be used for part or all of any down payment or closing costs required by participating lenders in order to qualify the buyer for the home of their choice. Futures met all requirements of the United States Department of Housing and Urban Development to offer down payment assistance to homebuyers, and the foundation works with approved mortgage lenders, realtors and other real estate professionals in all 50 states and the Commonwealth of Puerto Rico.

For more information, please visit our Web sites at www.fhap.org or www.fhap.org/espanol for the Spanish version. MEDIA: Contact Fauve Yandel, Director of PR, at 770-560-8913 or 800-672-4055 outside of Atlanta; In Espanol, call Aida Perez, Director of the Spanish Department, at 770-474-8170 or 800-672-4055.