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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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Brian Rodriguez spent more than a generous amount of time with me on the phone. He answered all my questions and concerns. Your firm proves time and again that you care for your clients like family.
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We would like to say thank you to Acclaim Legal Services- especially to Cindy Millns and Christopher Jones for helping us with the Chapter 13 process.
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I truly wish that Chris and Cindy had been our legal team from the beginning. We did not know what to expect, we were very uneducated about the chapter 13 process.
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