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San Francisco: Tell Bank of America: Negotiate with 75 year old Josephine Tolbert

March 14, 2012


Josephine Tolbert has lived in her home in the city's Portola District since 1975, opening a daycare business there in 1995. After running into financial trouble a few years ago, Tolbert was sued and her daycare temporarily shut down. When she fell behind on her payments, Bank of America sold Tolbert’s home in a short sale to real estate company True Compass, who evicted the 75-year-old great-grandmother two weeks ago. The company changed the locks on the house while Tolbert was out. But Josephine, with the support of her neighbors stood up and fought back and got True Compass to back off from this eviction attempt.

Now Josephine is calling upon Bank of America to give her a permanent modification. You can help. Call Bank of America official Monica Lozano, and tell her to negotiate with Josephine.

Call Bank of America official Monica Lozano at 866-214-2430 and tell her (politely) that you are making an emergency call about Josephine Tolbert. Ask her to do the right thing and negotiate a permanent modification that will allow Josephine to stay in her home

If you get a voicemail leave a message.


Report the results of your call here.

Here is a more detailed version of Josephine Tolbert's story:

Josephine Tolbert, 75, has lived in home for almost 40 years, having raised her children, grandchildren, and great grandchild there. She provides for herself running a day care out of her home.

Although her home was completely paid off in 2002, she was forced by her ex-husband's lawyers in 2004 to take out a loan to pay his share of the property. This loan had a max adj. interest rate of 18%. In 2006-7, she suffered a number of financial set backs and was diagnosed with cancer. She was unable to work and fell behind in her mortgage. In 2008, she recovered both physically and financially and attempted to work with her bank. By this time, the loan was sold to different companies finally falling on BofA. From 2009 to August 2011, Josephine was constantly being told by BofA that they were going to help her, having her apply for different modification programs. On August 17, Josephine had received a notice from BofA stating that her payments were to reset in Oct. of 2011. On Sept. 2nd, her house sold at public auction at the Van Ness side of city hall. On Nov. 30th, Josephine Tolbert, was evicted by True Compass, an investment group, that had purchased her home. Josephine was unaware of the sale and was under the impression that BofA was still working with her when True Compass contacted her to inform her they had purchased the home.

On December 12th, after two aggressive actions on True Compass, LLC at their office and at the restaurant of the one of the investors, True Compass conceded and agreed to work out an agreement with Josephine that has allowed Josephine back into her home and rescinded the sale of property back to BofA in order to negotiate a modification.

To date, BofA is refusing to rescind the sale and the stipulation agreement that Josephine entered into in order to stay in the house ends on March 31st.

We are still demanding that BofA rescind the foreclosure, repurchase the property, and modify her loan payments to be affordable.

On January 5th, a representative from BofA informed us that they were unwilling to repurchased the home.

We are continuing to fight BofA to demand that they repurchase the property, modify the loan with principle reduction and a 2% interest to keep Josephine in her home.

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