As the island continues its long recovery from the devastating impact of Hurricane Maria, Puerto Rico is on the cusp of a dire foreclosure epidemic. According to a December 2017 report by The New York Times, around one third of ...
Read More »HUD Announces $1.5 Billion in Aid to Puerto Rico
The Department of Housing and Urban Development announced Thursday that it was awarding more than $1.5 billion in aid to help Puerto Rico recover from the damages wrought by Hurricanes Irma and Maria last year. HUD Deputy Secretary Pamela Hughes ...
Read More »Federal Agencies Encourage Community Reinvestment in Puerto Rico
The economic concerns following the destruction of Hurricane Maria stretch further than the islands. As some states are faced with an influx of refugees putting a strain on their housing market, the federal agencies step in to address the issues at hand.
Read More »Puerto Rico Evacuees Exacerbating Florida Housing Crisis
Update: This story has been updated to note FEMA's extension of the TSA program for Puerto Rico evacuees. Over three months after Hurricane Maria made landfall on the island of Puerto Rico, half of the island’s 3.4 million citizens are ...
Read More »Puerto Rico Is Heading for a Foreclosure Epidemic
As Puerto Rico faces its worst housing crisis yet, rebuilding the island’s housing market will require more than just new power grids and homes.
Read More »Debt Still Runs High for Puerto Rico vs the U.S.
Amid a household debt increase of $35 billion in Q2 and the mortgage sector’s share of that debt declined from a huge spike in Q1, recently released data for Puerto Rico’s banking sector completes the picture of household debt for the Commonwealth.
Read More »Rushmore Loan Management Services Opens Branch in Puerto Rico
Irvine, California-based residential loan servicer Rushmore Loan Management Services opened a branch in San Juan, Puerto Rico, earlier this month.
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