BUSINESS

Servicer Aurora Sued For Making Loan Mods Too Easy To Get

02/09/2011 02:53 pm ET | Updated May 25, 2011

The loan modification offer was hard to turn down, in more ways than one.

It was July 2008. IndyMac Bank was failing and Fannie Mae and Freddie Mac were in a death spiral. Ballooning monthly payments were still a big worry for homeowners who had taken out adjustable-rate mortgages a few years earlier.

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