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prima:Foreclosures in Puerto Rico at record low

Between August 2023 and 2024, they decreased by 52.8%, according to data from the Office of the Commissioner of Financial Institutions

October 29, 2024 - 2:28 PM

According to Pedro “Peter” Torres, president of the Mortgage Bankers Association, Puerto Rico chapter, foreclosure proceedings can begin when debtors exceed 60 days of delinquent payments. (Shutterstock)

In the first eight months of 2024, 844 foreclosures were completed, which would be the second lowest figure recorded in Puerto Rico in that period of analysis for the past decade, according to data provided by the Office of the Commissioner of Financial Institutions (OCIF) to El Nuevo Día.

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