Thursday, January 17, 2013 4:54 pm
News Summary: Taxpayers ease banks' cost in deal
By The Associated Press
TAXPAYER SUBSIDY: 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.
IT'S DEDUCTIBLE: The Internal Revenue Service regards the lenders' compensation to homeowners as a cost incurred in the course of doing business: Result: It's fully tax-deductible.