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• a way to resolve or restructure a loan to prevent a homeowner from going into foreclosure through a loan modification, forbearance or short sale.

  Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program - Cite This Source - This Definition
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  Cite Definition for Work Out

  American Psychological Association (APA)

  Work Out. (n.d.). Making Home Affordable Glossary. Retrieved February 1, 2023, from website: http://www.expertglossary.com/definition/work-out.

  Chicago Manual of Style (CMS)

  Work Out. www.makinghomeaffordable.gov. Making Home Affordable Glossary. Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program. http://www.expertglossary.com/definition/work-out (accessed: February 1, 2023).

  Modern Language Association (MLA)

  "Work Out." Making Home Affordable Glossary. Departments of the Treasury & Housing and Urban Development, Making Home Affordable Program. 1 February. 2023 http://www.expertglossary.com/definition/work-out.

• Browse Related Terms: Deferred payments, Foreclosure, Home Affordable Foreclosure Alternatives Program (HAFA), Home Affordable Modification Program (HAMP), Home Affordable Refinance Program (HARP), Home Owners’ Loan Act, Loss Mitigation, Second Lien Modification Program (2MP), Trial Period or Trial Period Plan, Work Out