Foreclosure crisis hits Paterson, NJ

On today’s WNYC radio show “The Brian Lehrer Show,” host Brian Lehrer talked to Mark Winston Griffith, executive director of progressive think tank the Drum Major Institute, and Jose Torres, mayor of Paterson, NJ, about the Obama administration’s housing plan and its likely local impact. Torres said that in Paterson, which has a residential foreclosure rate of about 10 percent, many homes in danger of foreclosure are selling to first-time buyers before they actually go through the foreclosure process.