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From: gnome@olivee.UUCP (Gary Traveis)
Newsgroups: net.taxes
Subject: Re: taxes & home purchase
Message-ID: <471@olivee.UUCP>
Date: Mon, 26-Aug-85 13:42:43 EDT
Article-I.D.: olivee.471
Posted: Mon Aug 26 13:42:43 1985
Date-Received: Wed, 28-Aug-85 20:47:49 EDT
References: <10951@rochester.UUCP>, <455@olivee.UUCP> <726@charm.UUCP>
Organization: Olivetti ATC; Cupertino, Ca
Lines: 7

> 
> Points are pre-paid interest.  They count as an interest
> deduction however you pay them!!!!!!

Actually, in this area, many banks will incorporate the points into
the downpayment as a service charge.  This was as of 2.5 years ago
so it might have changed.