mortgage payments

Whoopsadaisy! Citigroup has accidentally been charging many customers more than what they owe for months, with some of them not even realizing it was going on until the bank sent out a notification.

Cit's bill-pay app for iPads was the culprit in many cases, charging customers twice what they owed for bills or mortgage payments.

The New York Times says the bug started in the iPad app around July but wasn't detected until December, after consumers' complaints about payments being off.

Other mobile applications and the online bill payment system weren't affected, says Citi.

Fewer Americans had their homes repossessed by banks or were put on notice for being behind on their mortgage payments in April compared to a year ago.

Talk about a financial scandal. A consumer borrows money to buy a house, doesn't make the mortgage payments, and then loses the house in foreclosure—only to learn that the wrong guy at the bank signed the foreclosure paperwork.

Can you imagine?

The number of borrowers falling behind on their mortgage payments dropped sharply at the end of last year, a sign the foreclosure crisis is beginning to ebb.

The number of borrowers falling behind on their mortgage payments dropped sharply at the end of last year, a sign the foreclosure crisis is beginning to ebb.

Many South Florida homeowners who can afford to make their mortgage payments are choosing not to, forcing the lender to foreclose.

It's called strategic default. Andres Duque thought he got a real steal when he paid $125,000 for his Little Haiti condo.

But four years later, similar units are selling for $35,000 and even less.

The number of people who were late making their mortgage payments shot up 53 percent in the fourth quarter of 2008 from the same period in 2007, according to data provided by TransUnion LLC.

Having trouble paying your mortgage? To find out if you qualify for a loan modification, you'll have to work with a loan servicer — the company that collects your mortgage payments.

Policymakers have argued that it is a good deal for lenders to cut borrowers a break on mortgage payments, but foreclosing can be more profitable, experts say.

Prosecutors filed 189 legal actions Wednesday against loan modification consultants accused of bilking homeowners who are desperate to make their mortgage payments more affordable.

The nationwide sweep, called "Operation Loan Lies," involved the Federal Trade Commission, the U.S. attorney's office for the Central District of California, and 23 other agencies in 19 states: