Scrooge Strikes 75 Year Old Great Grandmother

1% Real Estate Speculator Changes Locks on Childcare Provider and Homeowner of 38 years when she goes to store with great granddaughter

75_years.jpgSAN FRANCISCO–Dozens of neighbors, family, friends and supporters will gather to support Josephine Tolbert, a 75 year old great grandmother who – on Tuesday -  went to drop off her great granddaughter at school and returned to find her locks changed on her home she bought in 1973.  For nearly 20 years she has run a childcare business that helped support the economy and working families in her Portola Neighborhood of San Francisco.  On Wednesday, November 30th, she was evicted to profit real estate speculators.

“Just as I am finally getting back on my feet, and seeing success with my childcare business after being ill, I am kicked out of my home.  I thought I had more time and was working with counseling agencies to keep my home of 38 years, but have found out that it is not only sold but I came home this morning with my grandchild and found my locks changed.  I had to immediately cancel my childcare services leaving 2 families, 5 children, are left without their childcare.” stated Josephine Tolbert. “This isn’t how seniors should be treated over the holidays.”

WHAT:         Press Conference

WHEN:        Thursday, December 1, 2011  -  11AM

WHERE:      150 Ankeny Street,  San Francisco, CA  94134

(Located off of Mansell Street across from Burton High School) at the intersection of Ordway Street)

WHO:          Josephine Tolbert, local neighbors and supporters from her childcare network

“This action by an investment group is arbitrary and punitive.  There was no reason for them to remove me from my home over the holidays.  This has ripple effects on my client’s families I serve who now mush find childcare for their kids.  This has closed my business that has helps our economy.  This has ripple effects on my 8 children, 10 grandchildren, 6 great grandchildren, not to mention myself,”  said Tolbert.

True Compass LLC recently purchased Tolberts home and began eviction proceedings in order to flip the home for a profit.  True Compass is owned by Ashok (Ash) Gujral who owns a $2.75 million dollar home in San Anselmo, multiple restaurants, has an estimated net worth of over $10 million and is part of a number of multi-million dollar private equity and investment groups.

“Is this how the 1% treats seniors who have contributed to the community for decades?  The banks and skuper wealthy real estate speculators need to be held accountable and stop putting hard working people out of their homes.” said Bayview Home Defender Vivian Richardson who has vowed to stay in her home if evicted in a few weeks. “Last week, we heard from Attorney General Kamala Harris that the banks were not doing enough to fix the foreclosure crisis and that there should be a moratorium for evictions and foreclosures over the holidays. When are the banks and the 1% going to be held accountable?”

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