Stop whining about losing your page rank. Since nothing much you can do about it, unless you are willing to pay back the advertisers and remove their post, why not start a fresh. Since most of us are blogging from Blogspot, why not get your own webhosting with your own domain name.
There are many webhosting companies and you don’t simply pick the first one that you see. You need to know the web hosting choice of your preference like the space needed, the bandwidth, whether you need addon domains, email addresses, etc. Most importantly the price that you are willing to pay for it.
You can always check out WebHostingChoice.com for free guide to choosing the right web host for your personal or business site. They have everything from the basics of web hosting, a quick start guide to creating a web site, the scams that you need to be watch out and they also have the FAQ page for the most common questions about web hosts.