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Mortgage Forgiveness Debt Relief Act Expired at the End of 2013.
Posted by AcclaimLegalService
If you owe a debt to someone and that party forgives or cancels the debt, that canceled amount of debt may be taxable. As a part of the Mortgage Debt Relief Act of 2007, homeowners were able to exclude from income debt that was reduced on their principal residence. This included:
- Short sales;
- Mortgage restructuring, such as a loan modification;
- Foreclosure,…
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We want to thank Mr.William Johnson and everyone at Acclaim Legal Services for assisting us throughout our Chapter 13 plan, always available, always ready to assist us, such a long journey, so many ups and downs to finally, getting through these 5+ long years, thankfully it is now over, this has
THANK YOU THANK YOU THANK YOU for all the work your firm did for us. We were at wits end with all the collection calls, until one of my wifes co-workers recommended ALS. Since that day 5yrs ago we have had the pressure removed. We were treated with the utmost…
This letter serves as a commendation report for the outstanding legal services provided by Acclaim, its attorneys and the legal support staff. My case was handled with efficiency, proficiency and with professionalism. Mr. Joe Novell, the attorney, explained every…
My wife and I would like to thank Acclaim Legal Services for all their expertise and support. Special thanks to Brian Rodriguez, Cindy Millns and Leanna Sikes who have been so supportive in this most difficult time in our lives regarding Chapter 13 and our set of rather severe circumstances.