Mechanic's liens provide contractors and subcontractors with a means of collecting payment for construction work and supplies. The lien allows you to eventually take possession of property upon which you completed work for which you were not paid.
The summer of 2013 was an exciting time for LGBT couples in Minnesota. Last June, the U.S. Supreme Court (SCOTUS) overturned the Defense of Marriage Act (DOMA), which forbade the federal government from recognizing a legal same-sex marriage. Two months later, Minnesota legalized same-sex marriage.
Stanzer Knox refinanced his home in 2006 with a 30-year $185,000 mortgage - or so he thought. Mr. Knox soon discovered that he had agreed to pay the mortgage on his Minnesota home within the 30-year period, but he had 40 years' worth of payments to make. At the 30-year point, Mr. Knox would have to make a lump-sum payment of $121,062.58, equal to 120 monthly payments.
The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005 amendment to the U.S. Bankruptcy Code imposed additional burdens on debtors filing for bankruptcy protection. BAPCPA includes provisions that require debtors to obtain credit counseling and debtor education as part of the Chapter 7 and Chapter 13 bankruptcy processes.