Puerto Rico CofC president backs inventory tax pause to ease tariff costs
April 17, 2025
Luis Pizarro-Otero says the moratorium could help offset the impact of the U.S.-China trade war. #NewsismyBusiness
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CDC halts evictions in USDA multifamily housing communities
March 30, 2021
The U.S. Centers for Disease Control and Prevention (CDC) has extended the eviction moratorium to affected multifamily housing residents through June 30, 2021. This halt in residential evictions allows the U.S. Department of Agriculture (USDA) to extend relief to people who rely on USDA-supported multifamily housing communities. The USDA has 82 projects with 5,400 residents […]
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Legal Services creates guide to inform on moratoriums in times of COVID-19
January 26, 2021
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 […]
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FirstBank offers automatic moratoriums; Oriental unveils online help
March 30, 2020
Two of Puerto Rico’s main banks unveiled different measures over the weekend to help customers whose finances have been affected by the lockdown and mandatory curfew in place since Mar. 15, offering moratoriums and online help. FirstBank announced automatic stays on loan payments, offering qualifying clients the benefit for the months of April, May and […]
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P.R. Treasury Dept. grants payment moratorium to furloughed federal employees
January 24, 2019
The Puerto Rico Treasury Department has granted a moratorium on payment plans to U.S. government employees affected by the partial shutdown that is now the longest in history. Treasury Secretary Teresita Fuentes said as a result of the partial shutdown in effect since Dec. 22, 2018, employees that have gone without pay are being given […]
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In’s and out’s of mortgage moratoriums in P.R.
July 26, 2018
In this, our first podcast, we explore the in's and out's of mortgage moratoriums and loan modifications offered by Puerto Rico banks to help customers after the devastation of Hurricane María. We discuss several important points with CPA Javier Hernández, from FirstBank Puerto Rico.
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Foreclosures could spike by year’s-end as loan moratoriums expire
June 22, 2018
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.
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Some 300K customers took moratoriums on Banco Popular credit products
February 2, 2018
An estimated 300,000 Banco Popular customers participated in Banco Popular de Puerto Rico’s loan moratorium program, which included personal, auto, leasing, and mortgage loans, as well as credit cards, bank officials said Thursday.
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FHA extends foreclosure relief for homeowners
October 24, 2017
The Federal Housing Administration (FHA) is extending its initial 90-day foreclosure moratorium for FHA-insured homeowners impacted by Hurricanes Harvey, Irma and María for an additional 90 days due to the extensive damage and continuing needs in hard-hit areas, the agency confirmed.
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Housing Finance Authority grants 3-mo. moratorium
October 7, 2017
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.
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Local banks give clients 3-month reprieve on payments
September 27, 2017
Two of the island’s major banks, Banco Popular and FirstBank, stepped up Tuesday to help consumers during the hurricane-invoked emergency, offering three-month moratoriums a number of payments, including on mortgages and credit cards.
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GDB board members resign due to ‘restricted authority’
April 19, 2016
Two Government Development Bank board members are stepping down from their posts, saying, among other things, that the recently approved Puerto Rico Emergency Moratorium and Financial Rehabilitation has restricted the scope of their authority to make important decisions.
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