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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,…

Read more | Jan 08, 2014

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I wanted to take the time to commend attorney Chris Jones for the exceptional job he did in advocating for me during my case. This has been a long journey and his efforts, professionalism, and tenacity enabled me to finally receive a favorable judgment. Although…
John

(Detroit, Michigan)

Just wanted to thank you for all your help settling our deficiency with the bank. 

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Dan & Peggy

(White Lake, MI)

Over the past few years I have been working with Cindy Millns for my case. She has been so easy to work with and helpful, that I cannot express enough gratitude for her professionalism and courtesy during my troubling times.  She took the time to answer phone…
Peter

(Royal Oak, Michigan)

Mr. Johnson, I would like to thank you for having an exceptional staff and for assisting me in my time of financial distress. Everyone was professional but at the same time very caring even when I was having a complete meltdown, your staff never lost patience…
Karen

(Auburn Hills, MI)