Eminent Domain To The Rescue In Irvington? - My9 New Jersey

Eminent Domain To The Rescue In Irvington?

Posted: Updated:
Irvington, New Jersey (My9NJ) - Should New Jersey towns get into the mortgage business?

Two long-time Irvington New Jersey residents, Mary Whetstone and Yves Louis, say that the mortgage crisis in town has gotten out of control and something has to be done.

“Every block there’s one or two or three, foreclosures on it. And if it keeps on like this, every house is going to be foreclosed,” Whetstone said.

These residents say the answer is Irvington’s proposed eminent domain program where private property is taken for public use by the government. Basically, the town of Irvington would buy mortgages in foreclosure that people can no longer afford to pay and give them a better rate.

The town has identified 199 homes in Irvington that would qualify for the program and more and more residents are getting involved and interested. Many are now attending workshops to learn what eminent domain is really all about.

If this program is put in place, this will be the first town in the United States where eminent domain has been implemented to fix the mortgage crisis.

Advocates of the program say the process of the local government buying up bad mortgages would keep Irvington from falling into complete decline by keeping people in their homes, but it also means that towns like Irvington would potentially have to go up against big U.S. banks in court who could claim illegal seizure of property and breach of contract.

Many people who support the plan say that it’s not just because they can save their homes and community, but also to set a precedent for other American towns that are drowning in foreclosed homes like they are in Irvington.


Watch Chasing New Jersey weeknights at 10pm on My9 and don’t forget to like us on Facebook!

  • Chasing New JerseyMore>>

  • NJ Doctor Offering Alternative To Obamacare?

    NJ Doctor Offering Alternative To Obamacare?

    Tuesday, September 2 2014 1:24 PM EDT2014-09-02 17:24:21 GMT
    Doctor Alieta Eck is running for U.S. Congress in the 12th district as a Republican. She's recently made headlines due to a free clinic that she created back in 2003 with her husband called the Zarephath Health Center. The clinic is a 501C3 run by volunteers and funded through donations. The average cost per patient that Dr. Eck sees is about $13.Some people are referring to this center as an alternative to Obamacare.
    Doctor Alieta Eck is running for U.S. Congress in the 12th district as a Republican. She's recently made headlines due to a free clinic that she created back in 2003 with her husband called the Zarephath Health Center. The clinic is a 501C3 run by volunteers and funded through donations. The average cost per patient that Dr. Eck sees is about $13.Some people are referring to this center as an alternative to Obamacare.
  • Is The Boston Bomber’s Family In North Bergen A Threat?

    Is The Boston Bomber’s Family In North Bergen A Threat?

    Tuesday, September 2 2014 11:31 AM EDT2014-09-02 15:31:20 GMT
    The widow of the alleged Boston Marathon bomber, Katherine Russell, has been living in North Bergen with the sisters of her former husband, Bella and Ailina Tsarnaev. Neighbors in the area have just recently been made aware of her presence in town, but not all of them are happy about it.
    The widow of the alleged Boston Marathon bomber, Katherine Russell, has been living in North Bergen with the sisters of her former husband, Bella and Aliana Tsarnaev . Neighbors in the area have just recently been made aware of her presence in town, but not all of them are happy about it.
  • NJ Couple Combating The Stray Cat Problem In Union City

    NJ Couple Combating The Stray Cat Problem In Union City

    Tuesday, September 2 2014 11:11 AM EDT2014-09-02 15:11:46 GMT
    Union City has a major stray cat problem. Hundreds of cats are overtaking the city streets and Mercy Garcia and her husband Miguel Fernandez, founders of TLC Rescue, have been doing an unbelievable job of getting the situation under control, but they need help. So far, the couple has been able to round up over 200 felines, but they say there are hundreds more that need help.
    Union City has a major stray cat problem. Hundreds of cats are overtaking the city streets and Mercy Garcia and her husband Miguel Fernandez, founders of TLC Rescue, have been doing an unbelievable job of getting the situation under control, but they need help. So far, the couple has been able to round up over 200 felines, but they say there are hundreds more that need help.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices