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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 would like to thank your firm especially Chris Jones and Cindy for all the help they provided in my case. Bankruptcy is not an easy thing to go through and not always easy to understand the terms and terminology that is used. Your team was extremely helpful…
Sorry this email is a long time coming. I would like to thank you for all you did for my wife and myself. You were always very prompt and informative whenever anything was needed. Many times I was scared and worried during that difficult time. You always helped…
We want to thank Mr.William Johnson and everyone at Acclaim Legal Services for assisting us throughout our Chapter 13 plan, always available, always ready to assist us, such a long journey, so many ups and downs to finally, getting through these 5+ long years, thankfully it is now over, this has
In looking back, the best decision I made was to go with Acclaim – a bankruptcy only law firm. I was extremely stressed because of the financial situation I was in when I saw an advertisement for Acclaim. After my first visit I could finally feel hope.
I…