Puerto Rico property owners could face higher foreclosure levels after moratoriums on loan payments provided by local banks after Hurricane María expire in coming months, executives at FirstBank predicted Thursday.
During the first weeks of April, FirstBank resumed its "Hecho con Éxito, Hecho con FirstBank" program aimed at supporting the island’s small business segment’s operations after Hurricane María, the bank announced.
As a result of Hurricane María’s strike last year, the 135 homes at the Luchetti community in Yauco were completely flooded, and 35 percent of those homes are still inhabitable.