Landlord struggling with 2 mortgages after tenant did not pay rent

Landlord struggling with 2 mortgages after tenant did not pay rent

>> DINA BAIR: AND WHILE THE EVICTION MORATORIUM HAS HELPED MILLIONS OF RENTERS. KEEP A ROOF OVER THEIR HEADS. IT HAS ALSO BEEN A REAL STRUGGLE FROM LANDLORDS WHO HAVE NOT BEEN GETTING PAID DURING THE PANDEMIC. THEY STILL HAVE BILLS. SOME FORCED TO DIP INTO THEIR OWN SAVINGS. TONIGHT. WE'RE JOINED LIVE BY ONE OF THOSE LANDLORDS ROSE R-VA WHO OWNS A RENTAL PROPERTY IN CHICAGO. APPRECIATE YOU TAKING THE TIME TO TALK TO US TONIGHT. ROSE SO YOU ARE TRYING TO EVICT A TENANT PRIOR TO THE PANDEMIC IN 2019. I UNDERSTAND COVID HIT AND THEN THE EVICTION MORATORIUM WENT INTO PLACE. WHAT HAS THE LAST YEAR BEEN LIKE FOR YOU AS A LANDLORD. >> WE STOP RECEIVING PAYMENTS IN NOVEMBER OF 2019.

WE STARTED THE EVICTION PROCESS AND GOT POSSESSION BACK. WARY OF 2020 WE'RE WAITING TO HAVE OUR TINY. >> REMOVED AND COVID K. >> AND WE HAVE NOT RECEIVED ANY ASSISTANCE ANYTHING SONS. 2019. >> I THINK SEEN THAT STORY THAT TOM JUST PUT IT'S IT'S HARD NOT TO SYMPATHIZE WITH THE PEOPLE WHO ARE AFRAID THAT COME SATURDAY. THEY WON'T HAVE A ROOF OVER THEIR HEAD. YOU HAVE ALSO SUFFERED FINANCIALLY OVER THE LAST YEAR BECAUSE YOU STILL HAVE BILLS TO PAY UTILITIES THAT NEED PAID TAXES ON YOUR PROPERTY. WHAT HAS BEEN THE FINANCIAL STRAIN. BUT YOU HAVE FACED IN NOT RECEIVING MONTHLY RENT. >> ALL RIGHT. WE HAVE FAMILIES WHO I HAVE 2 WE WERE PAYING 2 MORTGAGES TO KEEP A ROOF OVER. OUR KATE HAD ONE POINT WE WE DRAINED ARE SAVINGS. WE WERE ASKING FAMILY TO HELP US AND BASICALLY LIVING PAYCHECK TO PAYCHECK SO THAT WE DIDN'T LOSE OUR MOMS.

>> LAUREN MAGIERA: YOU KNOW, THERE WAS ONE STATISTIC THAT STOOD OUT TO ME TODAY. ROSE AND FEDERAL AID AS TOM MENTIONED, HAS BEEN SLOW TO HELP BOTH RENTERS AND LANDLORDS. 3 BILLION OF THE 46 BILLION DOLLARS INTENDED TO HELP HAS BEEN DISTRIBUTED. THERE'S A LOT OF MONEY THAT HAS NOT YET FILTER THROUGH TO YOU AND TENANTS. WHAT HAS THE PROCESS BEEN LIKE TO FIND ASSISTANCE FOR YOU. >> WE HAVE A UNIQUE SITUATION WHERE USED A FAKE IDENTITY TO OBTAIN HER RELEASE. SHE WAS NOT AFFECTED BY COVID. SO THERE REALLY IS SYSTEMS OUT THERE FOR LANDLORDS IN OUR SITUATION BECAUSE WE WOULD NEED ARE TIED TO COOPERATE IN ORDER TO RECEIVE THAT ASSISTANCE.

eviction moratorium

SO WE TRIED TO APPLY AND WHERE DID NOT. SO THERE IS NOTHING OUT THERE FOR US RIGHT NOW. YET THE MORATORIUM STILL APPLIES TO YOU. CORRECT. DO YOU ARE AFFECTED BY THE MORATORIUM. DO YOU PLAN TO TRY AND ROOT RECOUP ANY OF WHAT YOU'VE LOST. AT THIS POINT. WE'VE SPENT SO MUCH ON WE'RE BASICALLY LOOKING AT OVER $75,000 IN BETWEEN LAWYER FEES. WE ARE JUST LOOKING TO SELL OUR CONDO AND MOVE FORWARD AND I I DON'T THINK THERE'S HOPE TO SEE THAT MONEY AGAIN UNLESS THEY CHANGE THAT WAY THAT THE MONEY IS DISTRIBUTED. SO YOU DON'T PLAN ON CONTINUING TO RENT YOUR PROPERTY OR OTHERS. I WOULD NEVER WANT TO BE A LANDLORD AGAIN AFTER GOING THROUGH WHAT WE WENT THROUGH THIS PAST YEAR AND HALF. WHAT'S MUCH FOR US. WHAT IS THE EMOTIONAL TOLL? BEN ON YOU AND YOUR FAMILY. I WAS PREGNANT AT THE TIME. LIKE I SAID, I HAVE 2 SMALL KIDS LIVING PAYCHECK TO PAYCHECK.

I UNDERSTAND SCARY. AND WE'RE JUST TRYING TO DO THE BEST WE CAN NOW TO GET OUR PLACE BACK. TO. >> SELLING CONDITION. >> AND YOU KNOW, HOPEFULLY WE CAN MOVE FORWARD. IT'S BEEN VERY STRESSFUL. SO MANY LAYERS TO THIS PANDEMIC AND A TALE OF 2 STORIES RENTERS NOT ABLE TO MAKE RENT AND LANDLORDS TRYING TO PAY FOR IT FOR THEIR BILLS .

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