Bank of America announced this week that it will begin helping people stay in their homes by adjusting their mortgages to no more than 34% of gross income. This is expected to help 400,000 people. What a novel concept, helping people STAY in their homes and keep paying rather than take over huge debts that then must be sold. Hopefully this will be a step in the right direction of helping people to continue to pay on their mortgages rather than helping them walk away from them. Read the full story here:

http://money.cnn.com/2008/10/06/real_estate/Drastic_plan_slashes_mortgage_costs/index.htm?postversion=2008100616

Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572

p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!