At the center of the President Obama's radical program to save the existing housing sector is the belief that modifying endangered home loans will save stressed mortgagees in their residences and provide a safety net beneath falling real estate prices.

With $75 billion set aside to modify bad mortgages, that's a a long shot— knowing full well that a high level government bank regulator said last December that approximately half of mortages revamped in the beginning of last year in Hernando County Florida soured once more in the next two quarters.

Admittedly, not good news.