In an effort to bring Web-based tools to homeowners in need of foreclosure prevention assistance, Columbia, Maryland-based ""IndiSoft"":http://www.indisoft.us/ and ""Financial Literacy Solutions"":http://www.mortgageworkoutcenter.com/ (FLS), headquartered in Coral Springs, Florida, have entered into a strategic partnership.[IMAGE]
Through a series of educational videos, FLS makes consumers aware of the options available to avoid foreclosure and teaches them how to work with nonprofit counseling agencies that will assist in the completion of modification packages. FLS launched its video management and distribution solution in August 2009, and it has been accessed on the Internet more than 125,000 times since its inception.
""Consumers learn in different ways, and combining video with other Web-based solutions is a best practice in engaging and teaching consumers about their options,"" said Garth Graham, president of FLS. ""One study shows that 80 percent of people regularly watch online video, and another study shows that 80 percent of adults think they would benefit from more financial education. So, the numbers are pretty compelling.""
The FLS partnership with IndiSoft combines these educational tools with IndiSoft's flagship product RxOffice homeowner/borrower portal. This product assists housing counselors and consumers in submitting supporting loan modification documents to mortgage companies and is currently being used by the HOPE NOW alliance to capture information from at-risk homeowners. Graham said paring video with IndiSoft's solutions provides a highly effective way to communicate financial options and drive consumers through complex process.
""By adding video to our solution, we have a platform that is more engaging for the consumers to complete a loan application in shorter time,"" said Sanjeev Dahiwadkar, president and CEO of IndiSoft. ""Video has proven to be a good learning tool, and when it is paired with our automated solution, consumers are able to get real answers much more quickly.""