Gov. Fortuño signs foreclosure mediation law
August 21, 2012
Despite intense last minute lobbying by Puerto Rico's banking sector, Gov. Luis G. Fortuño has signed a law requiring that all foreclosure proceedings of a primary residence include compulsory mediation. The law is effective in July 2013.
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Firm emerges to defend consumers facing foreclosure
April 19, 2012
Given the unstoppable wave of foreclosures in Puerto Rico, where some 8,000 properties have been repossessed in recent years, homeowners have a pressing need for legal representation to avoid losing their dwellings.
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HFA opens 2nd round of foreclosure assistance program
September 22, 2011
Looking to offer alternatives to address the problem of foreclosures in Puerto Rico, the Housing Finance Authority Executive Director George Joyner announced Wednesday the start of a second round of the "Protecting your Home" program, to offer help to families and individuals who have experienced a decline in income and are at risk of losing their homes.
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HFA launches mortgage loan assistance program
April 29, 2011
Some 1,500 Puerto Rico homeowners facing the possibility of foreclosure may be able to qualify for a new $20 million emergency assistance program unveiled Friday by the Puerto Rico Housing Financing Authority, in agreement with local banks.
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Some 18,000 local homeowners faced foreclosure last year
February 1, 2011
Some 18,000 homeowners in Puerto Rico were facing the possibility of losing their homes to their mortgage bank as of November 2010, the Financial Institutions Commissioner’s office (OCIF, as it is known by its initials in Spanish) said Tuesday.
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