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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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I wanted to take a few moments and offer a sincere THANK YOU for all the hard work that everyone at Acclaim Legal Services has done so far on my Chapter 13 Bankruptcy case. As you know, this process has a lot of emotional attributes for the filing person and is not a position I ever foresaw.
Since…
Acclaim Legal Services staff was outstanding! Turnaround time was usual within 24-36 hours in response to a question! The Attorneys give you good advice and really care about their clients! High recommendation given!
Almost a year ago to the day, I walked into your office overwhelmed and defeated and hopeless because of where I was at financially as a result of a difficult divorce. This last year has been a long and hard journey.
My Chapter 13 attorney was awesome in court and brought conclusion necessary…
I want to take a minute to thank you for always being available to answer my questions (no matter how obscure! Lol). I thank you for the time and patience you have with me. If no one tells you, you are an angel on earth and highly appreciated.