"Actúa por tu hogar" Mortgage Assistance Program

Sometimes in life we face unexpected situations that are beyond our control. If you're one of the many homeowners facing difficult financial situations, the "Actúa por tu hogar" Mortgage Assistance Program created by the Loss Mitigation team of Banco Popular is ready to help.

Whether you're facing a temporary or permanent situation, you may be eligible for one of the available assistance options, depending on your type of loan, which may help you save your home.

For Information and Evaluation:

Call us at 787-522-1544 from Monday through Friday, 8:00 a.m. a 5:00 p.m.  Make sure to have the last seven digits of your loan's account number or your social security number.

Visit our offices from Monday through Friday, 8:00 a.m. a 5:00 p.m., or Saturdays (by appointment only) from 8:00 a.m. to 11:00 a.m.

1492 Ponce de León Ave.
Centro Europa Building, 2nd Floor
Santurce, Puerto Rico

Méndez Vigo St., #15 West

Mayagüez, Puerto Rico

Essential Documents

To begin the process of finding a solution that will help you continue making your mortgage payments and save your property, please send us the following documents:

1.    A letter of explanation for late payment or possible late payment.
2.    Evidence of late payment or potential late payment.
3.    Evidence of income: bank statements, income tax returns, salary stubs, Social Security pension, if applicable.
4.    Evidence of expenses, extraordinary and recurrent.

Send your documents via fax to 787-993-6559 or deliver them at any branch of Banco Popular, using the internal mail code 655.

Options to Retain your Home

Repayment Plan

This is an agreement with your lender that allows you to repay the delinquent amount over a specified period of time. It usually involves making a full regular monthly payment plus an additional amount each month. 

Mortgage Modification

This is an agreement that allows you to restructure the original terms of your existing mortgage loan, such as extending the term, modifying the principal, reducing the interest rate or the monthly payment.

Special Forbearance Plan

This option may provide for a temporary reduction or suspension of payments, over a specified period of time.

Partial Claim (FHA)

If your loan is an FHA insured loan, you may claim the U.S. Treasury up to twelve months of late payments on your mortgage.

Options to Dispose of Your Home

Pre-Foreclosure Sale (Short Sale)

This is an agreement between the client and the lender that may allow you to sell your property for a lesser amount than what is necessary to pay off your mortgage loan.

Deed In Lieu Of Foreclosure

This option may allow you to voluntarily "give back" the property to your lender without further damaging your credit.

Frequently Asked Questions

When should I call the bank to begin working with the "Actúa por tu hogar" Mortgage Assistance Program?

If you can't meet your mortgage payments or believe that you will not be able to do so in the near future, contact us immediately. Also, start gathering documents or evidence to prove your current financial situation.

I'm currently in foreclosure process. Do I qualify for any option?

Yes, even if you're in foreclosure process you may qualify for one of the options. You must act quickly to avoid losing your home.  If not, your options to retain your home will be limited. Once the option is chosen, the foreclosure process is stopped.

Is it a good option to abandon my property if I cannot meet my mortgage payments?

We recommend that you don't abandon your property. Stay in it while you work out a solution with the bank. If you abandon your property, your options could be limited.