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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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My name is Patty Simmons and would like to say thank you to the team at Acclaim Legal Services. Myself and my husband filed Chapter 13 in 2009. It was a bumpy road for us initially, but our Attorney and Cindy Millns helped us through the process. After five years, we are finally done and could not…
The help I received from acclaim was invaluable! Considering the complexity of bankruptcy, I’m especially thankful for the assistance of my attorney in establishing a plan and initiating the process. I’m also thankful for the ongoing help of paralegal Nicole…
I am writing to thank you for your excellent, client-oriented service through a difficult financial hardship.
I would recommend Acclaim Legal Services (ALS) to anyone seeking relief to the gradual and stressful, and at time, overwhelming pressure of financial debts.
After a thorough…
I would like to thank your firm especially Chris Jones and Cindy for all the help they provided in my case. Bankruptcy is not an easy thing to go through and not always easy to understand the terms and terminology that is used. Your team was extremely helpful…