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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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Thank you for all of your help whenever I called or emailed you regarding my bankruptcy case. You were always helpful and quick to respond on helping me. I truly appreciate the awesome legal service that team at Acclaim Legal Services provided.
Many blessings…
My Name is Sandra, I was a client of your establishment and was serviced by Mr. Beach, Mr. Jones and Cindy Mills. All of them have been wonderful to me and took a great care to make sure everything was satisfactory to me. Every time I called they were ready and willing…
Dear Julie, Thank you for the follow-up on our home foreclosure situation. We managed to borrow the money for our relatives to pay the reinstatement fee. Although it was very embarrassing, we felt it was the best course of action. I would like to thank you for all your help. We did talk to a couple…
I along with my husband would like to thank our attorney and Acclaim Legal Services for their outstanding service during our Chapter 13 bankruptcy. Stacy was able to push our home modification through smoothly and rapidly after failed attempts by my husband and me to work with our mortgage company…