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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 often email you guys with a load of questions or asking for things… but I wanted to take this time to say thank you for all you do. You guys work hard and have been extremely dedicated to helping me with the various things that have come up – even with those…
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…
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 take a moment and recognize our attorney and his team. They were very accommodating and courteous throughout our entire Chapter 13 process. When we had a question we would email them or call and they would promptly get back to us with an answer.…