*The clock is ticking on those who have mortgages that were backed by the Federal Reserve since December 2008.

The program was put in place to keep mortgage loan interest rates low and protect individual mortgages, so that the government could offer programs that helped keep some out of foreclosure.

But, now the federal reserve is yanking the rug out from under those same people that took advantage of the interest lowering programs and tomorrow they could possibly see a rate hike. (more…)