Occupy Movement Targets Banks to Stop Foreclosures and Evictions
Photo by Scottchan
The idea of occupying foreclosed houses has caught on. In Redwood City the protestors have been able to postpone the imminent auction of the house of septuagenarian Gloria Takla. On 6th December Takla together with thirty protestors forcibly entered a branch of Chase shouting slogans and waving placards.
For nearly two years Takla has been trying in vain to get her house loan modified. The original granter of the loan was Washington Mutual. Later Bank of America bought it off. Her monthly payment shot up to unmanageable levels from $1,450 to $2,650. She had bought it with her life’s savings of $1,450. Takla is not conversant with English and bemoans she has been victimized by predatory lending.
On 6th December, Takla demanded to talk to somebody “human” in the bank and not just a recorded voice. The employees linked her with agents in the customer service cell while the police of Redwood City tried to keep the situation calm outside the bank.
Ten protestors squatted in the lobby while the police remained silent spectators. Meanwhile, Takla helped by her daughter, spoke to the bank authorities. None was arrested. When the protestors had stormed the bank only minor scuffles had broken out.
Takla talked to Ramel Nalus of Santa Clara Home Ownership Center of Chase. He has probably given her till 14th February to have her loan modified or be foreclosed upon. None of the officials of Chase, including Nalus, responded to calls made by Daily Journal seeking comments.
Takla and the protestors came out of the bank after about an hour, claiming ‘victory’. Takla said, “We were able to postpone the sale date only because the people joining me in the action”. Among those who had teamed up with Takla were Pastor Sandy Perry, Lili Liu, Christy Wong, Louis Vaughn and Aaron Castle.
Liu had recently been able to get her loan modified with the help of Alliance of Californians for Community Empowerment. She had come from Freemont to join the march. The group had organized the march and the protest before the bank in Redwood City. After ACORN filed bankruptcy, ACCE came into existence.
Vaughn said that the minorities have been targeted by predatory lending; the renters too have suffered. The tenants have been thrown out because the landlords were foreclosed upon. It was a trap for the people – they got sandwiched.
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