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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 wife and I would like to thank Acclaim Legal Services for all their expertise and support. Special thanks to Brian Rodriguez, Cindy Millns and Leanna Sikes who have been so supportive in this most difficult time in our lives regarding Chapter 13 and our set of rather severe circumstances.
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…
We can’t thank you enough for your help over the past 3 years. Your professionalism and patience speaks volumes about you!