The U.S. Department of Agriculture announced an extension of eviction and foreclosure moratoriums on USDA Single Family Housing Direct and Guaranteed loans through June 30, 2021. The actions announced will bring relief to at least 1,227 cases currently open in Puerto Rico, local agency officials announced. Of those, 617 cases are in foreclosure, 321 have […]
Consumers who have sought mortgage moratoriums due to the COVID-19 pandemic have a new educational tool on their loss mitigation alternatives once the moratorium ends, in the “Guide for mortgage moratoriums in times of COVID-19,” created by Puerto Rico Legal Services. The nonprofit noted that banking sector data show that more than 90,000 loans in […]
Puerto Rico Legal Services (SLPR, in Spanish) celebrated the opinion issued by the Puerto Rico Supreme Court in a mortgage foreclosure case that conclusively defines the concept of “good faith” in compulsory mediation processes that are mandatory in these cases. “Undoubtedly, the decision in this case will be a game changer for everyone facing foreclosure […]
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