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Occupy Redwood City Occupies Chase to Save Woman's Home

Gloria Takla, 72, faces foreclosure on her home March 6

Occupy Redwood City Occupies Chase to Save Woman's Home

Courtesy of Occupy Redwood City. Patch will be there to cover the event.

After holding a press conference at 4 PM for Redwood City foreclosure victim Gloria Takla, Occupy Redwood City (ORWC) will march with Gloria to the Redwood City Chase branch with the intention of Occupying it until her request for a loan modification and principal reduction is met. ORWC will be joined by Occupy San Jose (OSJ), the Alliance of Californians for Community Empowerment (ACCE), members of other local Occupy groups, and members of the Mid-Peninsula American Dream Council in Occupying and protesting inside and outside the bank.

Gloria Takla is a 72-year-old Redwood City resident whose home is being foreclosed on by JPMorgan Chase. Gloria has applied for a loan modification nearly twenty times and has been rebuffed by Chase each time. Her problems stem from a negative amortization (predatory) loan she got seven years ago with a $150,000 down payment. With this loan her monthly payment jumped by over a thousand dollars. Gloria's foreclosure date is Tuesday, March 6.

After a similar action on December 6 when ACCE, ORWC, OSJ and others Occupied the Redwood City Chase bank with Gloria, officials made promises to work with Ms. Takla on her loan. However, since that time Chase has consistently refused to deal with Gloria or move her case forward. Although Gloria's original foreclosure date of December 14 has been extended thanks to the repeated protests by ORWC, OSJ, ACCE and other concerned community members, the lack of movement on her case has inspired these groups to increase the pressure on Chase today with a more prolonged direct action.

ORWC is proud to stand with their allies and with concerned citizens from across the political spectrum today and Occupy Chase in defense of Gloria Takla.

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