Gloria Takla is 72 years old. She lives alone in her home in Redwood City, CA. An accomplished German Expressionist artist, Gloria was once able to support herself by selling her paintings. Since the economic downturn, Gloria has been struggling to make her mortgage payments and relying on her Social Security checks and the income she gets working as an in-home support service provider, taking care of a woman with Alzheimer’s disease. Now Gloria is facing foreclosure. Chase Bank says they will sell her home at auction on April 9, 2012.
Gloria has tried to work with Chase. She has asked the bank to give her an affordable loan modification and a principal reduction. She has sent in her paperwork sixteen times and gone to their offices to meet with Chase bankers. Up until now, Chase has refused to give Gloria a fair deal. The stress of this ordeal has wreaked havoc on Gloria’s health, resulting in an immune disorder.
The fact of the matter is that Gloria doesn’t deserve to lose her home. She invested her life savings, $150,000, in the home as a down payment. Gloria was steered into a predatory loan by a banker at Washington Mutual, which was subsequently bought by Chase, because the debt-to-income ratio of her loan was disproportionate.
Gloria is a member of the grassroots community organization Alliance of Californians for Community Empowerment (ACCE) which, along with Occupy San Jose and Occupy Redwood City, has organized four protest marches since November of 2011 where over 50 demonstrators marched into Chase Bank branches in San Jose and Redwood City and demanded that the bank give Gloria a fair deal.
Despite Gloria’s and ACCE’s efforts, Chase continues to refuse to give Gloria an affordable loan modification with principal reduction. That’s why we are calling on you to tell Jamie Dimon, “Do the right thing! Give Gloria Takla an affordable loan modification with principal reduction!”