The President's loan modification plan is a good faith attempt at keeping people in their homes, but there are a few economical and operational components missing. First, and foremost, no borrower wants to pay on a mortgage that is so far under water that they will be unable to come up for air in the next 20 years. You could give stressed homeowners a 1% interest rate with a 40 year term and most would still walk away from their homes if they owe more than the home is worth. Put simply, President...