NASHVILLE, Tenn. (WTVF) — A local landlord said there will likely be foreclosures down the road unless unemployed renters get monetary help to pay rent.
The Centers for Disease Control and Prevention has halted evictions for people who can’t pay rent to help slow the spread of COVID-19. Since property owners are left paying mortgages, experts are forecasting a waterfall of evictions, and an influx of foreclosures. “We’re just kicking the can down the road, just pushing the issue that it doesn’t negate the rental lost income, the resident is still responsible for that after the moratorium ends, and in a lot of situations they’re going to be a worse state financially with all those back fees and things like that.”
Elliott Hallum is the President of the non-profit Real Estate Investors of Nashville, and he’s a residential real estate agent who has several rental properties. “I think they’re going