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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 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…
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…
I would like to take the opportunity to Thank Acclaim for the way that they handled my Chapter 13. A very special Thank you goes out to Cindy, she handled everything in a very timely matter always answer my questions so that I understood.
She is one of…
We just received our discharge on our Chapter 13 bankruptcy today. I want to thank the staff at Acclaim for all the help given during the past 3 years. Everyone I have dealt with was very knowledgeable and gave concise answers to my questions and in timely manner.