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Hurricane MarĆ­a

U.S. lawmakers ask HUD to extend foreclosure moratorium in P.R., USVI

A number of U.S. lawmakers sent a bipartisan letter to the U.S. Department of Housing and Urban Development requesting a 90-day extension of the foreclosure moratorium in Puerto Rico and the U.S. Virgin Islands ahead of the current March 19 deadline.

In the letter, 25 members of Congress  — headed by U.S. Rep. Darren Soto, along with Resident Commissioners Jenniffer GonzĆ”lez-Colón (PR) and Stacey Plackett (VI) —also request that upon payment, the amounts owed be rolled into the principal, rather than required to be fully paid in a lump sum.

ā€œHundreds of thousands of people in these U.S. territories still reel from hurricane destruction and lack of power,ā€ said Soto.

ā€œIt is crucial we offer American families temporary relief from home foreclosures during this time of chaos,ā€ he said.

ā€œThe extension would benefit the elderly and communities of limited income, as well as support the thousands of multigenerational households. We need to avoid a housing crisis and foreclosure epidemic on the islands,ā€ Soto added.

The lawmakers expressed concern that ending “the moratorium on foreclosures would create a situation that would exacerbate homelessness throughout the islands,ā€ citing reports that as of December 2017, about one-third of Puerto Rico’s 425,000 homeowners were behind on their mortgage payments, and about 90,000 are delinquent as a result of Hurricane MarĆ­a.

The other lawmakers that signed the letter are: Nannette Diaz-BarragƔn (CA-44), Robert A. Brady (PA-01), Carlos Curbelo (FL-26), Tony CƔrdenas (CA-29), Adriano Espaillat (NY-13), Ruben Gallego (AZ-07), Raul M. Grijalva (AZ-03), Jimmy Gomez (CA-34), Luis V. GutiƩrrez (IL-04), Alcee L. Hastings (FL-20), Al Lawson (FL-05), Grace Meng (NY-06), Stephanie Murphy (FL-07), Grace F. Napolitano (CA-32), Bill Pascrell, Jr. (NJ-09), Albio Sires (NJ-08), Ileana Ros- Lehtinen (FL-27), Norma J. Torres (CA-35), JosƩ E. Serrano (NY-15), Juan C. Vargas (CA-51), Nydia M. VelƔsquez (NY-07), Frederica S. Wilson (FL-24).

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This story was written by our staff based on a press release.
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