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DellaPelle Pens Op-Ed Regarding Possible Underwater Mortgage Seizures in New Jersey
McKirdy & Riskin’s Tony DellaPelle authored a recent Op-Ed in the Star-Ledger regarding the possible use of eminent domain in Irvington, New Jersey to seize “underwater” mortgages. Irvington has announced that it is considering the plan, which was first contemplated in San Bernardino, California last year, but was then abandoned before breathing new life this summer in the City of Richmond, California, which has notified the owners of about 600 underwater mortgages of its intent to proceed, but has not yet commenced condemnation litigation. For more on this story, click here.
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