The number of Puerto Ricans who fell behind on their home loans following the devastation of Hurricane Maria may be peaking while federal mortgage guarantors debate how long to protect property owners from foreclosure, WSJ Pro Bankruptcy reported.
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The U.S. federal board managing Puerto Rico’s finances will consider fast-tracking four energy projects that would invest a combined $1.47 billion in the island’s decimated power grid, Reuters reported.
New leadership at Puerto Rico’s beleaguered electric utility may not be sufficient to compensate for missteps following Hurricane Maria that led to delayed work, recurrent blackouts and more than $500 million in contracts with untested companies now under federal investigation, according to a Reuters commentary.
A bipartisan group of U.S. senators wants federal housing agencies to extend a moratorium on foreclosures in Puerto Rico into 2019 after the devastation on the island and a big surge in mortgage delinquencies, the New York Times reported.