"It was a night of terror for this couple," said Superintendent Michael Chitwood.
It happened around 2:15 Labor Day morning inside a Drexel Hill home.
Four males broke into the Kirks Lane house and begin ransacking the place looking for a large amount of cash they believed was kept there.
They terrorized the elderly residents, a man 88-years-old and a woman 77-years-old, by keeping them in their bed at gun and knifepoint.
"At one point one of the invaders comes in with a butcher knife and starts stabbing the mattress and telling them that if they don't tell them where the money is the next stab wound is going in his chest."
They never found that imaginary mountain of cash. The bandits eventually made off with 2 flat screen TV's, a laptop computer, jewelry and the woman's 2000 BMW.
Philadelphia police recovered the stolen car Monday in Northeast Philadelphia after it was involved in a hit and run accident. The suspects escaped capture.
A Drexel Hill neighbor saw 2 men hauling away one of the TVs and placing it in the BMW but she didn't call police, claiming she thought the couple was moving out.
"These guys are armed and dangerous in my opinion they were just cowardly thugs but this home was targeted."
Other neighbors in the quiet, neat neighborhood are stunned by the robbery-attack.
Police have lots of fingerprint evidence from the car and the house. If you have any information you're urged to call police at 610-734-7677.
You can get the latest crime statistics from the Philadelphia Police by CLICKING HERE for the force's crime data mapping site.