At the moment, dealing with a mortgage lender about a missed payment may be a distant concern for many of the 3.4 million people in Puerto Rico. PhotoRepairing the housing market in Puerto Rico will take more than rebuilding storm-damaged homes and the electrical grid. Even before the storm, Puerto Rico was mired in a severe housing slump. Mr. Cancio-Reichard said his client had recently gotten the Puerto Rico Treasury Department to certify there were no unpaid taxes on his account. Over the past three years, the department has given more than 1,500 such approvals to reverse mortgage lenders in Puerto Rico.

Source: New York Times December 16, 2017 11:01 UTC