Tough economy leaving renters feeling effects of foreclosures - WMC Action News 5 - Memphis, Tennessee

Reported by Anna Marie Hartman

Tough economy leaving renters feeling effects of foreclosures

MEMPHIS, TN (WMC-TV) - Tough economic times are not only putting homeowners out of their homes, but those who are renting are also feeling the drastic increase in foreclosures.
 
Marlena Barber is a single mom with a 19 month old daughter.

Almost two weeks ago she received a letter from an Atlanta law firm telling her that the owner of her building was in foreclosure and she has 14 days to find somewhere else to live. 

Barber's building is owned by a businessman in California who hired Memphis based Revid Realty to manage the property. 

They are trying to find Barber a new place to live but in the meantime she's getting kicked out of an apartment 6 months after moving in. 

"This place turned out to be the perfect one, I looked over two months I saved money for the deposit and everything, I don't have money saved the money that I was going to save was going to go towards our Christmas and things like that," Barber said.  
 
"We've got a good tenant who pays her rent takes care of their place which to us is a valuable commodity.  Our first thing is to do whatever we can to find them another place to live," Brandon Kamm of Revid Realty said.

Revid has given Barber a list of their properties where she can relocate and will let her transfer her deposit.

But Barber said even with that, moving is expensive.

Less than a week before Thanksgiving and a month before Christmas, Barber is a victim of foreclosure in a home she doesn't even own.


Click here to e-mail Anna Marie Hartman.

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