The U.S. Treasury Department went live on March 19 with its Making Home Affordable program, which aims to help home owners refinance or modify their mortgages. The campaign includes a Web site at makinghomeaffordable.gov as well as a telephone hotline number at (888) 995-4673. The federal government is targeting 9 million home owners whose loans are held by Fannie Mae or Freddie Mac.

This new site includes a user-friendly design and some cool new tools like a quiz to see if you’re eligible for mortgage modification and a calculator that allows home owners to estimate the reduction to their monthly mortgage payment that they might get under the plan.

IS IT IN MY BEST INTEREST TO WALK AWAY FROM MY ARIZONA HOME?   
You decide.  Numerous variables are involved but the biggest is probably your assessment of the future of housing pricing.  No one can predict future prices, but the conventional wisdoms says that it is probably not realistic to believe that housing prices will increase by more than 4%-8% per year on average.

This site has a calculator that can help you decide

http://www.payorgo.com/