Work it Out!

I came across what might be a very valuable site for homeowners in trouble.

It's called WorkItOut.com

I did a little background checking and although the site is in "beta" it is NOT an start up.

From the outside it appears to be on the up and up.

It was originally registered with Network Solutions back in 1998 by a legal firm in Irvine, The Wolf Firm, and specifically Alan Wolf.

I did a little further digging and found that this isn't an "open to all" type of club.
To join, you have to be referred by your lender.

There is a limited amount of content on the site available for all to see including what I believe may be the most important two features;

• The FAQ, which gives the reader brutally honest answers to many of the common questions they may want to ask. It's here: LINK

• The List of Lenders and the contact information for that lender's Loss Mitigation Department.
  

What is that?
Let's say you are in trouble. You know it. So who do you call?
You call your Trusted Mortgage Professional!
Good call - so to speak.
But unfortunately, after running numbers and scenarios, they said there was nothing they could do for you.

Now who do you call? Your Lender - that's who!

There's a problem here too. You start with the toll free number and spend the rest of the day on hold and then finally explaining in great detail why you are calling, only to be transfered to the next representative or department who may be able to help you. This goes on with 17 different departments until finally you either hang up or get lucky and get the right department.

The people you really need to talk to within your lenders spiderweb of phone banks is the Loss Mitigation Department.

Luckily for you they are all listed right here. http://www.workitout.com/mod/glossary/view.php?id=98

I noticed it also has answers to a few questions not specifically Foreclosure related.

If you want a copy of your credit report do you know where to go?

NOT www.FreeCreditReport.com - right?
It's not free.
It is a marketing gimmick design to sign you up for their "Triple Advantage" service.

The site you DO want to use is www.annualcreditreport.com
It's the only site,

Let me repeat that again for emphasis...

It's the ONLY SITE, that allows for a truly free annual credit report
But you already knew that right?