The Puerto Rico Housing Finance Authority confirmed that in the wake of Hurricane María, it agency will offer an automatic three-month moratorium on payments for single-family mortgage loans and the “Casa Mía” program through November.
“Our government’s commitment to the people of Puerto Rico is to provide a space for families so they can invest their money in basic necessities,” said agency Executive Director Edwin Carreras. “This way, citizens will be able to focus their efforts on stabilizing their homes.”
Loans that are current as of Aug. 31, 2017 will be eligible for the moratorium. Payments of principal and interest covered by the moratorium will be transferred to the mortgage’s maturity date so its effect will be to extend the term of the loan. Those payments will be made as usual.
Carreras also explained that those who wish to continue making payments normally, instead of benefiting from the moratorium, may do so. Individuals who wish to get more information about the moratorium or their loans can contact the agency’s offices at 787-765-7577 between 9 a.m. and 3 p.m., Monday through Friday.