DALY CITY, CA — Tenants rights organizations took the rally from outside the home of recently evicted elderly Filipino couple, Melinda and Alex Cortez, all the way to the Saxe Mortgage building in Daly City.
The Cortezes have been residing in San Francisco since 1994 and now, Gene Kristul of Saxe Mortgage foreclosed on their homes because they could not pay off their loan.
However, the Cortezes says they were taken advantage of with the high interest rate.
“They didn’t consider getting the loan to replace the money that we owe them so that they didn’t have to foreclose the house,” said Melinda. “They didn’t give us a chance to discuss ways of saving our house from foreclosure.”
Tenants rights organizations describe Saxe Mortgage as predatory lenders and the Cortezes are just their latest victims.
“Saxe Mortgage is all about money. They don’t care about people,” said tenant organizer Ray Castillo. “They are shady. And right now they’re trying to put these couple and other folks in noe valley on the street for profit.”
Filipino organizers say that this is an on-going problem in the South of Market District, which was recently declared a Filipino cultural district by the city.
“It’s great to have a Filipino heritage cultural district, but what would that be if all the Filipinos there don’t live there any more? What’s the point?”
Fil-Am Daly City Mayor Juslyn Manalo showed her support for the Cortezes, and is trying to help.
“I’m here to hope that Gene Kristul, as having a business here in Daly City, would be amenable to have a meeting with this family and to find a resolve,” she says.
BA has attempted to contact Saxe Mortgage and Kristul, but there has been no response at this time.