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Gloria Takla was suckered into a negative amortization loan,
and has been trying to negotiate reductions in payments and
principle since (I think) 2010. She learned Easter Sunday that her
home was scheduled to be sold at auction Monday noon, after being
told last Wednesday she could get a "trial loan modification"; see
below. <br>
<br>
<br>
Spencer <br>
<br>
<br>
-------- Original Message --------
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<th align="RIGHT" nowrap="nowrap" valign="BASELINE">Subject: </th>
<td>[occupy-san-jose] Gloria Takla's House to be Sold Today!!</td>
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<th align="RIGHT" nowrap="nowrap" valign="BASELINE">Date: </th>
<td>Mon, 9 Apr 2012 00:56:44 -0700</td>
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<th align="RIGHT" nowrap="nowrap" valign="BASELINE">From: </th>
<td>iq4rent <a class="moz-txt-link-rfc2396E" href="mailto:iq4rent@hotmail.com"><iq4rent@hotmail.com></a></td>
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<th align="RIGHT" nowrap="nowrap" valign="BASELINE">Reply-To:
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<td><a class="moz-txt-link-abbreviated" href="mailto:occupy-san-jose@googlegroups.com">occupy-san-jose@googlegroups.com</a></td>
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<th align="RIGHT" nowrap="nowrap" valign="BASELINE">To: </th>
<td><a class="moz-txt-link-rfc2396E" href="mailto:occupy-san-jose@googlegroups.com"><occupy-san-jose@googlegroups.com></a>,
<a class="moz-txt-link-rfc2396E" href="mailto:awwwnold@gmail.com"><awwwnold@gmail.com></a>, <a class="moz-txt-link-rfc2396E" href="mailto:oakfoshomedia@gmail.com"><oakfoshomedia@gmail.com></a></td>
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<br>
<br>
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Please come continue the fight to save Gloria Takla's house
today!! <br>
<br>
11:30 Marshall and Webster side<br>
<br>
<div style="TEXT-ALIGN: center; FONT-WEIGHT: bold"><b><font
size="4">FOR IMMEDIATE RELEASE</font></b></div>
<div style="TEXT-ALIGN: center; FONT-WEIGHT: bold"><b><font
size="4">Chase Bank Lays Rotten Easter Egg, Occupiers
Hopping Mad</font></b></div>
<br>
<br>
<div style="TEXT-ALIGN: left; FONT-WEIGHT: bold"><b>
<div style="DISPLAY: inline !important"><br>
</div>
</b></div>
<div style="TEXT-ALIGN: left">
<div style="TEXT-ALIGN: left; FONT-WEIGHT: bold">APRIL 9, 11:30
AM, MONDAY<br>
San Mateo County Courthouse, Marshall St and Winslow Ave<br>
<br>
<span style="FONT-WEIGHT: normal"><i>Redwood City -</i> Occupy
Redwood City (ORWC), Occupy San Jose (OSJ), members of local
Occupy groups, the Alliance of Californians for Community
Empowerment (ACCE), People Acting in Community Together
(PACT), and other concerned members of the 99% will converge
on the San Mateo County Courthouse once again to stop the
sale of Gloria Takla's home.<br>
<br>
After months of repeated direct action against Chase Bank by
ACCE, ORWC, OSJ, other community groups, and other concerned
members of the 99%, JPMorgan Chase offered Gloria Takla a
trial loan modification last month. This modification would
make her monthly payments affordable. Chase officials told
Gloria as recently as Wednesday that if she makes
payments for the months of May, June, and July, there is no
reason why she wouldn't receive a permanent modification.<br>
</span><font style="FONT-WEIGHT: normal" size="2"><br>
We can only imagine Gloria's genuine shock and fear when she
was about to sit down for Easter dinner this evening and was
told that her home was still up for auction the next day.
Occupiers, ACCE, PACT, and other members of the community
are outraged at this turn of events and are prepared to
converge on the San Mateo County courthouse on Monday to
stop the sale of Gloria's home.<br>
<br>
Ms. Takla is a retired widow whose Redwood City home was
originally set to be foreclosed on December 14, 2011. Due to
the repeated direct action of Occupiers and others at Chase
branches in Redwood City and San Jose, Gloria is still in
her home and in a position to make permanent her trial loan
modification. Yet because of the shockingly poor nature of
our current foreclosure laws and homeowner protections, her
home is under threat once more due to what may maybe nothing
more than a lack of attention or communication within Chase
itself.</font></div>
<div style="TEXT-ALIGN: left; FONT-WEIGHT: bold"><font
style="FONT-WEIGHT: normal" size="2"><br>
</font></div>
<div style="TEXT-ALIGN: left; FONT-WEIGHT: bold"><span
style="FONT-WEIGHT: normal">Gloria's situation illustrates
why ORWC made the effort at a recent General Assembly to
join OSJ in endorsing ACCE's 2012 slate of legislative
priorities in California, including SB 708 and AB 1602/SB
1470:</span></div>
<div style="TEXT-ALIGN: left"><font style="FONT-WEIGHT: normal"
size="2"><br>
</font></div>
<div style="TEXT-ALIGN: left">AB 1602/SB 1470 would stop the
process of "dual tracking" Gloria is currently experiencing.
Together these laws would prohibit the recording of a notice
of default or notice of sale when a timely-filed application
for a loan modification or other loss mitigation measure is
pending. They would also enshrine several other protections
for homeowners, including the requirement that creditors
provide documentation to borrowers that establishes the
creditor’s right to foreclose on real property prior to
recording a notice of default and to provide documentary
evidence of ownership, the chain of title to real property,
and the right to foreclose, at the time of the filing of a
notice of default.</div>
<div style="TEXT-ALIGN: left"><br>
</div>
<div style="TEXT-ALIGN: left">SB 708 would extend SB 1137 from
2013 to 2018, giving us five more years of protections for
homeowners. The bill requires lenders to contact property
owners to attempt to avoid foreclosure, provides tenants
additional time to move from a foreclosed property, and
mandates maintenance of foreclosed properties to diminish the
impact on the value of neighboring homes.</div>
<div style="TEXT-ALIGN: left"><br>
</div>
<div style="TEXT-ALIGN: left">Paige Scott of ORWC expressed her
disgust at the situation Gloria has been placed in by the
banks: "This is a lady who has for the last month been
operating under the impression the bank gave her that her home
was safe for now. To have this surprise foisted on her when
she was sitting down to enjoy her holiday dinner with her
family and friends is just cruel. And it really shows why we
need laws like the ones ACCE, ORWC, and OSJ are supporting and
how poor the current system is in supporting members of the
99%."</div>
<div style="TEXT-ALIGN: left">
<div style="FONT-WEIGHT: normal"><br>
</div>
</div>
<div style="TEXT-ALIGN: left; FONT-WEIGHT: bold"><font
style="FONT-WEIGHT: normal" size="2">Roger Brina of ORWC
added: "It says a lot about the unchecked power of the banks
and the threat that homeowners like Gloria are under
everyday that we don't have basic protections likes these
already."</font></div>
<div style="TEXT-ALIGN: left; FONT-WEIGHT: bold"><font
style="FONT-WEIGHT: normal" size="2"><br>
</font></div>
<div style="TEXT-ALIGN: left; FONT-WEIGHT: bold"><font
style="FONT-WEIGHT: normal" size="2">While ORWC is outraged
that Gloria's home is once again under attack, they are
proud to join once more with their allies at the County
courthouse to demand that Chase give Gloria the clarity and
peace of mind she deserves. We demand for Gloria nothing
less than an affordable loan modification that will include
fair interest rates and principal reduction at the end of
her trial period.<br>
</font></div>
<div style="TEXT-ALIGN: left; FONT-WEIGHT: bold"><font
style="FONT-WEIGHT: normal" size="2"><br>
</font></div>
</div>
<div style="TEXT-ALIGN: left"><span><font color="#222222"
face="arial, sans-serif">
<div><i>*** ORWC continues to rally every Friday at 5 PM in
Courthouse Square, with General Assemblies starting at 6
PM. At their most recent General Assembly, the group
passed a proposal to endorse the San Mateo County
Community College District's move toward district
elections and away from at-large elections, and also
passed a proposal to organize a May Day student walkout
in Redwood City in solidarity with the labor movement
and the General Strike called for that day.</i></div>
</font></span></div>
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