Foreclosures: A New Way Out?
Your mortgage is under water; foreclosure’s at your door. So should your town bail you out through an innovative application of eminent domain? Irvington, N.J. wants to give it a try. Is it bad public policy, or a creative new way of fighting the urban foreclosure crisis? In studio with Sandy and Ray: Irvington Mayor Wayne Smith, Rutgers Law Dean Ron Chen and Bankruptcy Lawyer Timothy Duggan.