November 18, 2013, by
Irvington, New Jersey, is moving forward with plans to become the second municipality in the nation to use eminent domain to buy mortgages that are in foreclosure (see November 15 New York Times story). Irvington will be performing a legal study of the proposal. Since 2008, nearly 1,800 homes have been foreclosed in the city of 53,000. It has an unemployment rate of 12.4 percent. Even the New Jersey chapter of the ACLU backs the Irvington plan.