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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 overall experience with Acclaim Legal Services has been excellent. They created a workable budget for me while allowing me to reduce my debt. They were very prompt and helpful when I had questions or concerns. They helped me modify my home mortgage so that…
Mr. Johnson, I would like to thank you for having an exceptional staff and for assisting me in my time of financial distress. Everyone was professional but at the same time very caring even when I was having a complete meltdown, your staff never lost patience…
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.
We appreciate all that you have done for us – you were always there to answer any questions that we…
Thank you William Johnson and Cindy Millns for doing such a great job handling my bankruptcy case and allowing me to get my life back in order. Thank you for giving me a chance to regain confidence and succeed in life to the fullest.
I will tell anyone…