WASHINGTON — Consumer advocates say mortgage lenders are getting off easy in a deal to settle charges they wrongfully foreclosed on many homeowners. Now it turns out the deal is even sweeter for the lenders than it appears: Taxpayers will subsidize them for the money they’re ponying up.
The Internal Revenue Service regards the lenders’ compensation to homeowners as a business cost. The result: It’s fully tax-deductible.
Comments
the banks win, they always do, the are bigger now than they were in 2008, nothing changed, it's actually gotten worse.