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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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Just wanted to thank you for all your help settling our deficiency with the bank.
After finding out the bank wanted us to pay the difference between what we owed them on the house and what they sold it for, I didn’t know which way to turn…the thought of possibly loosing our building kept…
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It has been very pleasant to have Chris Jones helping with the bankruptcy process. At first you think you know everything by reading few things here and there from various web sites. Then when you meet Chris in the first 30 minutes you realize that you really…
I retained representation with Acclaim Legal Services after I had previously retained representation by a different law firm. My previous attorney was never available for me to consult with them, and treated me very rudely. As a result of this treatment I decided to retain Acclaim Legal Services to…
I just wanted to let you know how much I appreciated your help throughout my Chapter 13 bankruptcy. I am so glad I decided to go with Acclaim Legal Services. Everyone I dealt with were very professional. I really appreciated how quickly you responded to me…