To: Irvington Council President Beasley and Irvington Council Members

Council President Beasley & the Irvington Town Council: Stand Up To Wall Street!

We, the undersigned, urge the Irvington Town Council NOT to play politics with people’s homes and to stand courageously against Wall Street, big banks and their lobbying outfit, SIFMA. Irvington Mayor Wayne Smith and a majority of the Irvington council strongly support a plan to condemn the most toxic mortgages in Irvington and reset them to fair market values with low fixed interest rates so families can afford to stay in their home, avoid foreclosure and stabilize communities hard hit by the foreclosure crisis!

Why is this important?

Irvington, NJ is poised to become the second city in the country, behind Richmond, CA, to tackle the foreclosure crisis and hold Wall Street banks accountable in a real way.

Mayor Wayne Smith of Irvington, NJ and a majority of Town Council members have been working to implement a plan to condemn the most toxic mortgages in Irvington, reset them to fair market value at low fixed interest rates and sell the reset mortgages that back to homeowners so they can afford to stay in their homes and stop the vicious cycle of blight that currently plagues Irvington – fact, the Council voted unanimously last summer to move forward with these plans.

Unfortunately, D. Bilal Beasley, the president of the Irvington Town Council, is stalling those efforts. At the most recent Town Council meeting he tabled a resolution that would put this plan in motion, despite broad support for the measure from his council colleagues and Irvington residents. Fortunately, Councilman Beasley's foot dragging can be undone with four votes.

Each day that passes without action from the Irvington Town Council is another day closer to foreclosure, homelessness, and bankruptcy for hard-working Irvington residents.

Homeowners in Irvington and across the country need courageous leaders willing to stand with them against Wall Street! Council President Beasley & the Irvington Town Council needs to stop playing politics, take a stand against Wall Street’s predatory and fraudulent mortgages and act courageously to save Irvington’s future!