SAN JUAN, Puerto Rico — Aylsa Torres sighed in relief when she received a letter from her bank two weeks after Hurricane Maria hit. Banco Popular, which is Puerto Rico’s largest bank, said more than 20,500 clients received moratoriums that expired in December and January. Other large Puerto Rico banks declined to provide specific numbers. “The three-month moratorium might have seemed generous at first, but in reality, it’s not,” said Maria Jimenez, director of the legal services clinic at the University of Puerto Rico. “The expectation we have is that once the moratoriums expire, the massive wave of foreclosures on the island will continue,” he said.

Source: National Post January 24, 2018 18:23 UTC