Big Banks Get Tax Break On Foreclosure Abuse Deal

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Big Banks Get Tax Break On Foreclosure Abuse Deal

Big Banks Get Tax Break On Foreclosure Abuse Deal

I know… Sweet Deal!

Break after fraud, after more fraud, after plenty of more fraudulent conduct!

Who says crime doesn’t pay?

HuffPO-

Consumer advocates have complained that U.S. mortgage lenders are getting off easy in a deal to settle charges that 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 cost incurred in the course of doing business. Result: It’s fully tax-deductible.

[HUFFINGTON POST]

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3 Responses to “Big Banks Get Tax Break On Foreclosure Abuse Deal”

  1. Joe says:

    These banks and servicers tell the united states government to jump and united states government says okay how high do you want me to jump. This country is a joke it all comes down to campaign funds, that’s why nobody could have a fair Foreclosure hearing. I found out that these judges all received money from these Foreclosure mill Lawyers and banks. When will these judges start doing their job and go by the laws that are in place for over a hundred years. What a sad sad thing thats going on. It’s what ever these banks and servicers say everybody listens it’s not fair. Why are all other crimes being prosecuted. Then you tell THESE judges that have their pockets lined with money that these banks and services have all forged documents and these servicers that close down under one name and reopen under another name and judge says I don’t care. WHO CAN STEP IN AND STOP THIS ABUSE. EVEN OBAMA RECEIVED CAMPAIGN FUNDS. WHAT ARE WE GOING TO DO

  2. Joe says:

    Remember God knows who all the siners are and when they die they are all going to pergatory

  3. Are the banks recieving credit for ponying up credit for what they would have lost anyhow on defiencey judgements and short sales. if so they not only get a break they possibly make a profit. THe banks are taking settlment credit for money they would not have seen, using it for the defencies thay would not have recieved funds anyhow and the short sales as s principle reduction to keep the homeowner in the house, but foreclosed and or forced the homeowner to sell it to someoneelse. Now tax credit ontop of it. This is sooooooooooo wrong

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