It’s a few days later than expected, but Verizon has officially announced its Mobile Recovery service which is touted as “a web-and-phone-based application that will help customers in the event they lose or misplace their phones.” The software will be compatible with Android, BlackBerry, Palm and Windows Mobile phones. In terms of functionality, this software can remotely lock or wipe your device in the event of theft, or even help you track your phone via GPS (though we wouldn’t recommend you don a red underwear and go after it, unless you hail from Krypton). You can also use Mobile Recovery to sound an alarm on your phone which might be useful if you think that the thief is still in the vicinity. The Mobile Recovery application will be available to customers who subscribe to the Total Equipment Coverage (TEC) program from Verizon.